This comparison includes all savings accounts that offer instant access.
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RCI Bank Freedom Savings Account
Account Type
Easy Access
Open With
£100
Interest Rate
1.5% AER variable
Protection Scheme
FGDR
Virgin Defined Access E-Saver
Account Type
Easy Access
Open With
£1
Interest Rate
1.41% AER variable
Protection Scheme
FSCS
Tesco Bank Internet Saver
Account Type
Easy Access
Open With
£1
Interest Rate
1.35% AER variable inc. 0.60% fixed bonus for 12 months
Protection Scheme
FSCS
Aldermore Easy Access Issue 9
Account Type
Easy Access
Open With
£1,000
Interest Rate
1.25% AER variable
Protection Scheme
FSCS
Halifax Online Saver
Account Type
Easy Access
Open With
£1
Interest Rate
0.80% AER variable inc. 0.60% variable bonus for 12 months
Protection Scheme
FSCS
Different rates apply depending on balance. When the 12 month introductory period ends, the Online Saver variable rate will apply, currently 0.20% gross/AER.
NatWest Instant Saver
Account Type
Instant Access
Open With
£1
Interest Rate
0.5% AER variable
Protection Scheme
FSCS
RBS Instant Saver
Account Type
Instant Access
Open With
£1
Interest Rate
0.5% AER variable
Protection Scheme
FSCS
Harpenden Building Society 21 Club
Account Type
Instant Access
Open With
£1
Interest Rate
2.25% AER variable
Protection Scheme
FSCS
Only available to savers between the ages of 18 and 21.
Newbury Building Society Existing Members Account Ex/C
Account Type
Instant Access
Open With
£50
Interest Rate
2.1% AER variable
Protection Scheme
FSCS
This product is only available to existing customers.
Newcastle Building Society Newcastle Big Home Saver Issue 3
Account Type
Instant Access
Open With
£1
Interest Rate
2.02% AER variable
Protection Scheme
FSCS
Available in branch only.
Buckinghamshire Building Society Simple Regular Saver Issue 2
Account Type
Instant Access
Open With
£10
Interest Rate
2% AER variable
Protection Scheme
FSCS
Newbury Building Society Welcome to Newbury
Account Type
Instant Access
Open With
£50
Interest Rate
1.65% AER variable
Protection Scheme
FSCS
Available in branch only.
Birmingham Midshires Online Extra (Issue 17)
Account Type
Easy Access
Open With
£1,000
Interest Rate
1.5% AER variable inc. 1% fixed bonus for 12 months
Protection Scheme
FSCS
Cumberland eSavings Account Ex/C
Account Type
Easy Access
Open With
£100
Interest Rate
1.5% AER variable on £1+
Protection Scheme
FSCS
This product is only available to existing customers.
Kent Reliance Branch Easy Access (Issue 2)
Account Type
Instant Access
Open With
£1,000
Interest Rate
1.45% AER variable
Protection Scheme
FSCS
Available in branch only.
Kent Reliance Loyalty Easy Access Account (Issue 1) Ex/C
Account Type
Instant Access
Open With
£1,000
Interest Rate
1.45% AER variable
Protection Scheme
FSCS
Kent Reliance Online Easy Access Account (Issue 1)
Account Type
Easy Access
Open With
£1,000
Interest Rate
1.45% AER variable
Protection Scheme
FSCS
Virgin Defined Access Saver
Account Type
Easy Access
Open With
£1
Interest Rate
1.41% AER variable
Protection Scheme
FSCS
Available in branch only.
The West Brom Limited Access Saver
Account Type
Instant Access
Open With
£1
Interest Rate
1.4% AER variable
Protection Scheme
FSCS
Available in branch only.
Saga Telephone Saver (Issue 16)
Account Type
Easy Access
Open With
£1,000
Interest Rate
1.35% AER variable inc. 0.85% fixed bonus for 12 months
Protection Scheme
FSCS

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How to Find the Best Instant Access Savings Accounts

Find out how an instant access savings account could help grow your savings.

Instant access savings accounts give you the flexibility to save money in an account which attracts a good rate of interest while allowing you the freedom to access your funds on demand without penalties or restrictions.

Because of the flexibility easy access savings accounts offer, the rate of interest paid on them tends to be slightly lower than on fixed term or notice accounts.

However, if you're savvy about looking for the best instant access savings accounts and are willing to move your money around in return for the best instant access savings accounts rates, it is still possible to get a good return but you do need to stay on your toes.

Many instant access bank accounts advertise attractive savings accounts interest rates to entice new customers, but lower the rate shortly after so that it's nowhere near as competitive as the best instant access savings account available. As such when you're looking for a new savings account you need to check whether the account's interest rate is fixed or variable before you open it.

If the interest rate is variable you need make sure that it remains competitive otherwise you'll lose out. If it's fixed you need to make a note of the higher rate end date and move your money once the return drops.

Regardless you should keep an eye on the rate you're earning and see how it compares to the top 10 instant access savings accounts on the market. As soon as you find that you could earn more interest elsewhere it's time to switch- with an instant access saving account you have the flexibility to do this as and when you like.

You should also keep an eye out for interest bonuses. These will inflate the return you get on your easy access savings for a number of months. After this time, the interest rate will drop and what was a high interest savings account will become mediocre. Once this happens it makes sense to move your money to a more profitable home.

Additionally, many financial institutions offer tiered interest rates on their instant access accounts; these are designed as an incentive because the more you save the more interest you'll earn.

What's more, the majority of instant access savings accounts can be opened and kept open with a minimal balance (often as little as 1) making them suitable for even the novice saver.

Interest is usually paid annually, either on the anniversary of the account opening or on a pre-specified date. Some institutions may offer the option to take instant access savings monthly interest payments, although this may be subject to a slight reduction in the rate of interest paid.

When you're researching your options you'll need to consider how you'll want to access your money. For example, if you want branch access you'll need to opt for instant access branch savings accounts, whereas if you're happy with online banking then you'll need to check this is offered.

The flexibility with which money can be accessed is a definite benefit of instant access accounts as money is available when you need it. Conversely however, this easy access feature may also offer the temptation to spend. So after building up a reasonable amount in an instant access account it may be worth looking to investing some of the money in a longer term account so that your savings can earn a higher rate of interest.

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