Click on the name of the bank or building society for further information about the account.

Disclaimer: All rates are subject to change, please check with the bank or building society before investing.

Bank / Building Society

AER

Notice / Term

Minimum Required

Account Opening

More details

1.75%

None

£50

Internet
Branch
Post

1.50%

None

£1

Internet

1.50%

None

£1

Internet

1.50%

None

£1

Internet

1.50%

None

£50

Internet
Branch
Post
Kent Reliance

1.50%

None

£1,000

Internet

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Instant Access Accounts

An Instant Access savings account provides you with greater freedom than other accounts which may require notice to access money.

The interest rate payable tends to be lower than for accounts that require notice or tie your money up for a number of years. Although with the increasing popularity of bonus rates this is not always the case.

The rate of interest for instant access accounts are generally variable and can change with very little notice, it therefore pays to keep an eye on the return you are getting to ensure it is still competitive.

Furthermore Instant Access savings accounts often have a bonus, or introductory, rate of interest for a set period. These bonus or introductory rates can make the rate of interest look particularly attractive, however once it is removed, after a prescribed period, the interest rate generally becomes uncompetitive and savers should look around to consider alternatives.

These are some of the simplest accounts available, and can often be opened in a variety of ways, including via the internet, by post and in person at a branch.

Unlike Instant Access Cash ISAs however, the interest is taxed meaning savers looking for an instant access account should use their ISA (Individual Savings Account) allowances first and only then consider a normal Instant Access Savings account.