Best easy-access savings accounts

Easy-access savings concept with piggy and coin tree

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Best easy-access accounts
How easy-access accounts work
How to withdraw easy-access savings

If you need flexibility with your cash, easy-access savings accounts are a good place to start.

These accounts typically offer top savings rates while allowing you to make penalty-free withdrawals, making it a good option for those who want an emergency fund to cover any unexpected costs.

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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.

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.

Sidekick Multi Shield – 4.23% AER

This saver can be opened online with a minimum balance of £10,000. The interest rate is 4.23% (variable) and includes a 1% bonus for six months on your first £120,000. It's worth noting that Sidekick partners with UK-regulated banks to provide its savings products. The rate is also a blended rate, which means that your first £120,000 is deposited at a higher rate partner bank, the second £120,000 at the next highest rate bank, and so forth. Since the above deal lets you allocate your funds across multiple banks, it is eligible for FSCS protection of up to £360,000. It is operated by Bondsmith.

Manchester BS Manchester Rainy Day Saver – 4.15% AER

Manchester Building Society’s Rainy Day Saver can be opened with just £1, and you can save up to £1 million. But only £120,000 of your savings are eligible for FSCS protection. You’re allowed one penalty-free withdrawal each year, after which your rate will drop to 1.7%. You can open the account online or in person. Interest is paid annually.

Newcastle BS 6 Month Variable Saver – 4.15% AER

You can open this account with just £1 and save up to £1 million – only £120,000 will be eligible for FSCS protection. You’ll earn a variable interest rate of 4.15%, and you can make penalty-free withdrawals and transfers without notice. Applications can only be made in a branch, and interest is paid monthly.

West Brom BS Four Access Saver – 4.15% AER

With this saver, you can earn a variable rate of 4.15% on balances from £1 to £500,000. When depositing higher amounts, bear in mind that the FSCS only protects £85,000. You can make up to four penalty-free withdrawals in a year. If you go above your withdrawal limit, you will be subject to a lower savings rate of 1.4%. The account can be opened online, and interest will be paid on 30 April 2027.

Shawbrook Bank Bonus Easy Access Savings Account – 4.13% AER

This savings account with Shawbrook includes a 2.13% fixed bonus for the first twelve months. You can fund the account with just £1 and save a maximum of £500,000. Only £120,000 of your money will be protected by the FSCS. Any funds need to be deposited within 28 days of opening the saver. Interest is paid monthly, and you can open the account online.

Spring Easy Saver – 4.11% AER

Earn a variable 4.11% on your savings between £10 and £500,000. Note that only £120,000 is FSCS protected. You will have 28 days to fund your account. The account can be opened on the Spring app, and interest is paid monthly.

DF Capital Easy Access Account – 4.1% AER

You can open this account with £1,000 and save a maximum of £250,000. The FSCS protects up to £120,000 of your deposits. You have the freedom to withdraw money, but you must give one working day's notice and the minimum withdrawal amount is £1,000. The saver can be opened online, but can be managed either by phone, email or using internet banking. Interest is paid monthly into a nominated bank account.

Vanquis Bank Triple Access Saver Account – 4.08% AER

You can start investing from £1,000 and go up to £250,000 to earn this variable rate with Vanquis Bank. Only up to a total of £120,000 is protected under the FSCS. Up to three penalty-free withdrawals are allowed, after which your rate will drop to 2.25%. The account can be opened online. Interest is paid at maturity.

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.

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Oojal has a background in consumer journalism and is interested in helping people make the most of their money.

Oojal has an MA in international journalism from Cardiff University, and before joining MoneyWeek, she worked for Look After My Bills, a personal finance website, where she covered guides on household bills and money-saving deals.

Her bylines can be found on Newsquest, Voice.Cymru, DIVA and Sony Music, and she has explored subjects ranging from politics and LGBTQIA+ issues to food and entertainment.

Outside of work, Oojal enjoys travelling, going to the movies and learning Spanish with a little green owl.