Best easy-access savings accounts – earn up to 4.5%
The best easy-access savings accounts are now offering up to 4.5% on your cash savings. We look at the best rates on the market now.
All the banks featured here are protected by the Financial Services Compensation Scheme (FSCS), meaning up to £120,000 of your savings are protected should a bank or financial firm go bust.
Easy-access savings accounts are a popular option for savers who want flexibility without sacrificing returns.
These accounts typically offer some of the top savings rates on the market while allowing penalty-free withdrawals, making them well-suited for emergency funds and short-term savings goals.
Currently, the leading easy-access rate is 4.5% AER from Saga. If you want to lock in rates before they drop any further, you can opt for a one-year fixed savings account instead.
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Those hoping to maximise their tax-free savings allowance may also want to consider the best cash ISAs.
Below, we round up the best easy-access savings accounts on the market.
Best easy-access savings accounts
Chase Saver With Boosted Rate – 4.5% AER
You can earn a 4.5% boosted rate within your first 31 days of opening a Chase saver. It includes an extra 2.25% AER boost for 12 months on top of the standard variable rate. 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.
Oxbury Bank Easy Access Bonus Rate Summer Saver – 4.33% AER
Oxbury's summer saver is paying you 4.33% if you save anywhere between £1,000 and £120,000. You can make same-day withdrawals provided that you do it before 1pm on a working day. You can open this saver online, and interest is paid monthly and at maturity.
Cahoot Simple Saver – 4.32% AER
Open this easy-access saver with just £1 and save a maximum deposit of £2 million. But note, you can only earn the variable rate on balances up to £500,000, and only £120,000 of the sum is eligible for protection under the FSCS scheme. You can open this account online. Interest is paid at maturity.
Post Office Money Online Saver – 4.31% AER
You can earn a boosted rate of 4.31% if you save between £1 and £2 million in this Post Office saver. The rate will revert to 0.9% after 12 months, and it's also worth noting that only £120,000 of your amount will be protected under the FSCS. You can open this account online. Interest is paid monthly or annually.
Ulster Bank Limited Edition Saver Account – 4.3% AER
This Ulster Bank limited edition saver pays 4.3% interest, which includes a fixed 12-month bonus of 2.75%. The top rate is paid when you save between £5,000 and £3 million – though only up to £120,000 of your savings will be eligible for protection under the FSCS. Interest is calculated daily and paid on the first business day of each month and at maturity. The account can be opened online.
United Trust Bank UTB Limited Access Saver Account – 4.3% AER
UTB is paying a variable rate of 4.3% if you save anywhere between £5,000 and £150,000. Only £120,000 of your balance is eligible for FSCS protection, and you will have 14 days after you submit your application to fund your account. If you make over two withdrawals, your rate will drop to 2.75%. Interest is calculated daily and paid annually on 31 October and at maturity. The account can be opened online.
thisbank Triple Access Savings Account – 4.28% AER
thisbank's savings account lets customers deposit between £1,000 and £500,000, of which £120,000 is protected under the FSCS. You can make three withdrawals per year, and the account can be opened online. Interest is calculated daily and paid monthly.
Mansfield BS Triple Access Bonus Saver – 4.25% AER
This account from Mansfield BS pays 4.25% if you save between £1 and £400,000, of which only £120,000 is eligible for FSCS protection. The interest rate includes a 1% bonus that is fixed for the first 12 months, after which it reverts to 3.25%. You can access your funds thrice each calendar year, and open the account in person or via post. Interest is payable annually.
Cynergy Bank Easy Access Account – 4.23% AER
You can grow your savings with 4.23% interest, which includes a 2% fixed bonus for the first 12 months. This saver can be opened with just £1, and you can save up to £ 1 million. Note that only £120,000 of your money will be protected by the FSCS. You can open this account online, and interest is paid annually.
How do easy-access savings accounts work?
Easy-access savings accounts let you flexibly save your cash, by making as many withdrawals as you like without incurring a penalty.
You will earn a variable interest rate, which means that the provider can increase or decrease the rate on your savings account as they choose, which is usually the case when the Bank of England cuts the base rate.
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 savings accounts?
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.
