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Top easy access savings
accounts

In the current unpredictable economic climate, it is extremely important to have a dependable way to save money in order to maintain financial stability. Easy access savings accounts offer a convenient solution by allowing individuals to deposit and withdraw funds whenever necessary without any penalties.

These accounts usually provide competitive interest rates, enabling savers to earn a decent return on their money while still having easy access to it.

Whether you are saving for unexpected expenses, a future investment, or just building up your savings, easy access savings accounts offer reassurance and a feeling of financial security in a constantly evolving world.

Top rate

5.2%

Ulster Bank

You’ll need an Ulster Bank current account which requires a hard credit check so this account may not be for everyone.

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Easy access best buys

Right now, the top easy-access cash ISAs offer a 5.2% interest rate. Even if you don’t require the tax benefits of an ISA, you might consider opting for one to earn higher rates.

If you have already used your ISA allowance…

Ulster Bank provides a 5.2% interest rate but requires you to sign up for an Ulster Bank current account.

Provider Rate (AER) When is interest paid? Min/max deposit How to open
Ulster Bank 5.2% Annually £5,000 – No Max Online (no joint accounts)
Chase 5.1%

(rate drops to 4.1% on 16 Jan 25)

 Monthly / Annually No Min – £1m App (no joint accounts)
Monument Bank 5.03% Monthly £25,000 – £2m App (no joint accounts)
Cynergy Bank 4.94%

(includes bonus of 1.19% for 12 months)

 Annually £1 – £1m Online
Leeds BS

(matures 1 Sep 25)

 4.85% At maturity £1,000 – £1m Online

Last Updated: 16th July 2024

FSCS Protection

Easy access accounts typically offer FSCS protection, which means that your savings are safeguarded up to £85,000 per person, per banking institution, in the event that the bank fails. This protection provides peace of mind to savers, ensuring that their money is secure and accessible whenever needed. It’s important to note that the FSCS protection applies to most UK-regulated banks and building societies, helping to protect individuals’ savings in the unfortunate event of a financial institution’s insolvency.

Top easy access savings questions

What is an easy access savings account?

A convenient savings account that allows you to deposit and withdraw money freely, without any penalties or restrictions, providing flexibility and ease in managing your savings.

What are the benefits of an easy access account?

Easy access accounts are designed to give you convenient and fast access to your money, making them perfect for emergency funds or short-term savings goals. These accounts usually come with attractive interest rates, making them a great alternative to current accounts.

Is there a minimum amount required to open an easy access account?

Lots of banks and building societies offer the option to open an easy access savings account with a low minimum deposit, sometimes as low as £1. This means you can begin saving with just a small sum of money.

Are easy access savings accounts safe?

Yes, most easy access savings accounts in the UK are protected by the Financial Services Compensation Scheme (FSCS). This means that your money is protected up to a certain amount per person per banking institution in case the bank fails.

Can I open more than one easy access account?

Yes, you can open multiple easy access savings accounts with different banks or building societies if you wish. Just keep in mind the FSCS protection limit applies per banking institution, so spreading your savings across different institutions can provide additional protection.

Grow your savings

Grow your savings

Grow your savings

Grow your savings

Grow your savings

Grow your savings

Grow your savings

Grow your savings

Grow your savings

Grow your savings