• >
  • Savings>
  • Instant and easy access savings accounts

Compare instant and easy access savings accounts

Compare these easy access accounts that could earn you a high interest rate and let you withdraw your savings whenever you need to.

  • Withdraw your savings whenever you want
  • Earn competitive interest rates
  • Protected by the FSCS up to £85,000

Compare instant and easy access savings accounts from leading providers

You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

Ford Money Savings

How do I find the best instant access savings account?


The interest rate

A higher interest rate gives you a better return on your money


Minimum deposit requirement

Some accounts need just 1p, yet others need up to £10,000.


How you want to manage the account

Some accounts are online, yet others are managed in a branch, on the phone or by post


Whether your money's protected

Choose an account with a bank or building society that uses is backed by the FSCS compensation scheme.

Instant and easy access savings accounts deals

4 results found, sorted by highest interest rate. How we order our comparisons. Commission earned affects the table's sort order.
£25 bonus offer. Claim via email, terms apply
Raisin UK Brown Shipley - Easy Access Account
Account type
Easy access
Open with
Interest rate
1.1% AER variable
Protection scheme
Raisin UK Brown Shipley - Easy Access Account
£25 bonus when you deposit £10,000 or more into your first savings account with Raisin UK. Term length must be min 6 months, or for an easy access account your balance must remain at or above £10,000 for the first 6 months. Withdrawal conditions apply.
No notice, penalty, or charge applies.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
Maximum Initial Deposit£85,000
Minimum Initial Deposit£1,000
Minimum Age18 years
Permanent UK Resident

What is an instant access savings account?

An instant access or easy access savings account is a bank account for your savings. It's more flexible than most other savings accounts. You can earn interest, but still dip in to your money whenever you need to and deposit money at your choosing.

Is an easy access savings account right for me?

Keeping your money safe in the most profitable place is sensible. Sometimes, this can mean putting it into an account with restrictions. But you might prefer to know your savings are within easy reach, in case you need to dip into them.

If you want access to your savings whenever you like, but would still like to earn some interest, an instant access savings account might be for you. Or you could look at an easy access savings account. With savings accounts your money is protected by the FSCS as well¹.

What's the difference between an instant access savings account and an easy access savings account?

Instant access savings accounts

As the name implies, with an instant access savings accounts you can access your savings instantly. You can either transfer the money into your current account or withdraw it at a branch. There's no penalty for taking money out.

Easy Access Savings Accounts

With easy access savings accounts, while you can withdraw your money easily, it might take a short while to get to your money. Sometimes you have to link your easy access account to another account, and withdraw money into that account.

How much do you need to open an instant access savings account?

The best instant access savings accounts can be opened with as little as 1p. Most need £1 or more. Some need as much as £10,000.

Use our comparison table to find the best instant access accounts. Then use the filters to find accounts that can be opened with a specific amount. For example, you could find one that needs you to put in less than £100. Or you could search for instant access savings accounts that need you to put in more than £1,000.

What are the pros and cons of instant access or easy access savings accounts?

  • Withdraw your money whenever you like
  • No penalties for withdrawing cash
  • Open an account with as little as £1
  • Deposit money whenever you can
  • Lowest interest rates compared to other savings accounts
  • Some easy access accounts take a few days to process withdrawals
  • Your money could lose value if the interest rate is below the inflation rate

Do I pay tax on interest I earn from my instant savings account?

Most people don't pay tax on savings interest because everyone has a Personal Savings Allowance. It's only people with lots of savings that pay interest on them.

Basic-rate taxpayers can earn £1,000 in savings interest tax-free and higher-rate taxpayers can earn £500.

Find out more about paying tax on your savings here.

Is there an instant savings account with a high interest rate?

Some of the best easy access accounts pay a slightly higher rate than others.

But you should be aware of restrictions. Accounts with the best instant access savings rates might be online only, or might have strict rules. For example, some accounts may only allow a certain number of withdrawals in a year.

The best easy access savings option will have a good rate and restrictions that won't be a problem for you personally.

child savings

What is the best way to save for your child?

Saving for a child's future is a crucial part of planning your family's finances. There is no perfect formula and every family will have their own best options. However, there are a number of ways you can choose to save for your child, so you should be able to find a product to fit your financial goals.

The best way to save for your child is likely to be through a children's savings account. It is a savings account that can only be opened by, or on behalf of, a child under 18.

For example, an instant access children's savings account will let you pay money in and take it out when it's needed, but will not usually offer you very competitive interest rates.

If access is not a priority and you are looking for higher interest accounts, fixed term bonds and junior stocks and shares ISAs could produce a better return on your child's money.

Read more about saving for your children.

What's the best instant access savings accounts for over 60s?

If you're looking for the savings accounts for over 60s, you'll see that there aren't many age-specific accounts available.

There are a few, but they don't pay high rates in comparison to other easy access ISA options that aren't age-specific.

Instead, you might be better off doing a more general search. Or, you could just look at traditional savings accounts with good rates, which also give you easy access to your money.

Instant access saving FAQs

Explore savings guides

See more guides

Can you still get a decent return on your savings?

It is tougher than ever to make money from your savings, but you could get a better return if you expand your search for interest. Here are your options.

Read More

Are ISAs still worth it?

Whether you have a cash ISA or are thinking of getting one, you should consider if it's still a good place for your money. Here is how to work out if ISAs are still worth saving into.

Read More

What's the best place for your money?

Knowing what to do with savings can be difficult, especially when rates are so low. Here is what you can do if you have money to invest.

Read More

Why compare savings accounts deals with money.co.uk?

Comparing savings accounts could save you money. Our multiple award-winning comparison service makes sure you get the lowest fees and rates possible based on your individual circumstances. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

Proud to be award winning

We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.

stevie award
WMA 2021 Logo-768x632
nba logo
logo dma
ecommerce awards

¹FSCS protection for banks, building societies and credit unions is up to £85,000 per person per banking licence, or up to £170,000 for joint accounts.

Last updated: 20 September, 2021