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Compare latest instant access savings account rates Go compare with our comparison table

Compare latest instant access savings account rates

29 May 2012 / by James Caldwell

Instant access savings accounts rates are changing all the time and so it pays to shop around if you are looking for a competitve deal for your hard earned savings.

It is important when comparing deals on easy access or instant access savings accounts that you need to look beyond the headline rate as some accounts have conditions which apply which may not suit your requirements.

Many savings deals pay a bonus which is only paid after a set period and rules may apply to how many withdrawals you can make during the year.

Latest instant access savings account deals

Many of the leading instant access savings account deals available are online accounts. The Post Office Online Instant Access Saver is currently paying a competitive 3.17% Gross AER which includes a 1.52% gross AER fixed bonus after 12 months with a monthly interest option. Accounts can be opened with £1.

The Nationwide MySave easy access account offers a comparable rate of 3.17% gross/AER but with a minimum deposit of £1,000 and with the bonus paid after 12 months fixed at 1.62% gross/AER.

For new customers, the ING Direct Savings Account offers a variable rate of 3.10% gross/AER including a 2.56% gross per annum bonus fixed for 12 months and withdrawals can be made at any time without charge. 

The Derbyshire Building Society NetSaver Issue 3 for savers who have a minimum deposit offers a rate of 3.06% gross/AER which includes a fixed bonus of 2.06% gross p.a. paid until June 2013. Withdrawals can be made at any time without penalty.

The Scottish Widows Bank Direct Transfer account pays 2.80% gross/AER which includes a 0.89% gross AER fixed bonus paid after 12 months. The account has no withdrawal penalties and as well as being managed online it can be operated by post or telephone. There is a minimum opening deposit requirement of £1,000.

To compare instant access savings accounts see our table below. For savers who can afford to tie up capital for longer, it is worth considering fixed rate bonds which provide terms typically from 1 to 5 years. 

No news, feature article or comment should be seen as a personal recommendation to invest. If you are in any doubt as to the suitability of a particular investment you should seek independent financial advice.

© Fair Investment Company Ltd

 

Instant Access Savings Accounts Deals
ProviderAccountInterest Rate (AER)TermApply

Up to

1.50%

AER/Gross p.a (variable)

Instant accessMore Info >
  • Earn up to 1.50% AER/Gross p.a. (variable) when you grow your savings by £50 or more each month
  • Instant access to your savings
  • Open the account with just £1
  • Interest rates - 1.50% AER/Gross p.a. (variable) for balances between £1 – £5,000, 1.00% AER/Gross p.a. (variable) between £5,001 – £10,000, 0.20% AER/Gross p.a. (variable) over £10,000
  • Open and manage your account in branch, online and by telephone
  • Must be UK resident and over 16 to apply
  • Must save at least £50 every month to qualify for interest

1.30%Instant AccessMore Info >
  • Earn 1.30% AER Gross.
  • No penalties, fees or notice periods
  • Free unlimited payments and withdrawals
  • Deposit from £100
  • Interest paid monthly or annually
  • 7 day support
  • Covered by the French Depositor Compensation Scheme
  • Apply in minutes
  • Must be UK resident and aged 18 or older

1.22%

Instant AccessMore Info >
  • Earn 1.22% AER (variable)
  • Minimum opening balance of £1
  • Interest paid monthly or annually
  • Open an account singly or jointly
  • Unlimited deposits and withdrawals
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
1.15%Easy AccessMore Info >
  • 1.15% AER
  • Free withdrawals and no notice period
  • Deposit from £100
  • Flexible saving - regularly or with a lump sum
  • Includes a fixed bonus of 0.95% gross fixed for the first 12 months
  • Quick and easy online application
  • Must be UK resident and aged 18 or over
  • Rate drops to 0.20% gross/AER variable after 12 months
1.00%Easy AccessMore Info >
  • 1.00% AER on balances up to £1 million
  • Save from £1000 - £1million
  • Monthly interest
  • Manage your account online
  • Unlimited withdrawals
  • Must be UK resident and aged 18 or over
  • New customers only

Gross is the interest you will receive before tax is deducted.

AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.