Best easy-access savings accounts – earn up to 4.75%

Savers will want to get the best interest rates on savings available following the base rate cut. Currently, the top easy-access rate is 4.75% from Chase.

Savers who want to lock in rates before they drop can still find decent returns with some one-year fixed savings accounts currently offering up to 4.6% AER.

According to Moneyfacts, the rate of UK inflation is now higher than the average easy-access savings rate. This means that savers are now losing money in real terms.

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However, 164 easy-access accounts now offer inflation-busting savings, so make sure you take advantage of them quickly before they're gone.

All the banks featured here are protected by the Financial Services Compensation Scheme (FSCS), meaning up to £85,000 of your savings are protected should a bank or financial firm go bust.

Best easy-access savings accounts

Best easy-access

Chase Saver With Boosted Rate – 4.75% AER

You can earn a 4.75% boosted rate within your first 31 days of opening a Chase saver. It includes an extra 1.5% AER that is fixed for six months, on top of the standard variable rate. But you may have to act quickly as this offer can be withdrawn at any time.

There is no minimum deposit requirement, and you can go up to £3 million. This offer is only available to new customers. Interest is paid monthly and the account can be opened online.

We look at if the new Chase bonus deal is worth getting and who's eligible.

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Monument Bank Limited Access Saver – 4.75% AER

You can make up to three withdrawals per year with this limited saver account. From your fourth withdrawal, your interest rate will fall by 0.5% for the rest of the year. The account can be opened and managed using the Monument Bank app.

You need at least £25,000 to open this account, and the maximum deposit amount is £2 million. Bear in mind that only up to £85,000 is protected with the FSCS.

Vida Savings Defined Access – 4.63% AER

This savings account will let you earn 4.63% interest on deposits from £10 to £85,000. Interest is paid annually and can be either paid out or compounded.

You can withdraw money from this account up to four times a year before incurring a lower interest rate. Open online.

Atom Bank Instant Saver Reward – 4.6% AER

There is no minimum opening deposit and you can go up to £100,000, but keep in mind that only £85,000 of your deposit will be protected by the FSCS.

If you make a withdrawal, the rate you earn drops to 3.25%. Interest is paid at maturity and you can open the saver on the Atom app.

Sidekick Money Sidekick High Yield Cash Reserve – 4.59% AER

This saver will let you make unlimited withdrawals without affecting your interest rate and can be opened online with a minimum opening balance of £1,000. The maximum amount you can invest in the account is £500,000. The FSCS will only cover £85,000.

The interest rate is 4.59% for balances of £1,000 to £34,999 and includes a 0.55% bonus for the first 12 months. The rate for balances of £35,000 upwards is reduced to 4.04% and does not include a bonus.

Oxbury Bank Easy Access Account Limited Edition – 4.58% AER

With Oxbury’s limited edition easy access account, you can save anywhere between £20,000 and £500,000. However, only £85,000 of your funds are eligible for FSCS protection. You can make same-day withdrawals provided that you do it before 1pm on a working day.

Your initial deposit needs to be made within 90 days of opening the account. You can open this saver online and interest is paid at maturity.

Kent Reliance Easy Access Account - 4.55% AER

This account requires a minimum deposit of £1,000 and you can save up to £1 million. After opening the saver, you must keep a minimum balance of £1 at all times to keep the account in use.

You can open the account online or in the branch, and you can opt for interest to be paid monthly or annually.

Charter Savings Bank Easy Access - 4.53% AER

Open this account with £5,000 and save up to £1 million, but keep in mind that only £85,000 of your deposit will be protected by the FSCS.

Interest is paid annually on maturity and you can open the saver online.

Chetwood Bank Easy Access – 4.52% AER

This easy-access savings account allows you to save at an interest rate of 4.52% without a minimum opening amount. Chetwood also does not put any limits on the amount of money you can put in the account.

The account can be opened online, and you can withdraw money from it one time a day.

Principality Building Society Online Bonus Triple Access – 4.5% AER

Starting with an investment of just £1, this easy-access saver allows you to save up to a maximum of £1 million at 4.5% interest. This rate includes a 1.5% bonus for the first 12 months.

You can withdraw money from this account three times a year without affecting the interest rate. Open online.

Revolut Instant Access Savings - Ultra - 5% AER

With Revolut’s variable savings account, you can earn 5% on your cash. There is no minimum deposit requirement and you can save up to £200,000.

However, it’s worth noting that you can only get this rate with Revolut’s Ultra plan, which costs £55 per month. Plus, ClearBank powers Revolut’s savings account, so customers are still eligible for FSCS protection for up to £85,000 of their savings via ClearBank Limited.

Interest is paid daily. The account can be opened through the Revolut app.

How do easy-access accounts work?

Note that some banks and building societies offer introductory rates to entice you to open an account, so it is a good idea to keep an eye on rates and switch to another account when the rate drops.

The Bank of England cut interest rates twice in 2024, but many wonder if UK interest rates will continue to fall. However, with the base rate falling, savers might witness a flurry of activity in the savings market, which may not work in their favour. This means some of the best rates may not hang around for long, so you will need to be quick if you spot a good rate.

And if a market-leading account that you opened a few months ago is not offering a good rate anymore - it's worth shopping around regularly to ensure your savings are working as hard as possible.

When can I withdraw money with easy-access accounts?

Note that some banks and building societies offer introductory rates to entice you to open an account, so it is a good idea to keep an eye on rates and switch to another account when the rate drops.

Traditionally, easy-access accounts should give you unlimited and flexible access to your savings.

However, there is now a trend for savings accounts to restrict the number of withdrawals – while still calling the account "easy-access". If you breach the limits, the penalty is normally a loss of interest, or falling onto a lower interest rate.

It means you'll need to look carefully at any restrictions on withdrawals (which could limit the frequency or the amount you take out) before opening an easy-access account.