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In their purest form, easy-access accounts provide straightforward access to your cash. They can be the simplest type of savings account to hold, and are a good idea if you want to regularly deposit and withdraw funds.
Their convenience can mean lower interest rates, which can increase or decrease at any time (though your provider should always let you know in advance).
They can also come with tricky terms that you should check before you sign up, such as bonus periods and withdrawal restrictions.
In this guide, Telegraph Money explains:
- What is an easy-access savings account?
- How we determine the best rates
- The best easy-access savings accounts for July 2026
- Expert opinion: Things to consider when choosing an easy-access savings account
- Variable interest vs fixed-rate
- Easy access account FAQs
What is an easy-access savings account?
Easy-access accounts usually have variable interest rates, which can be increased and decreased at the provider’s discretion – but it should always let you know before the rate changes.
However, these accounts can come with a range of terms that make them more complicated. For instance, some include introductory bonus rates, which are essentially temporary offers to attract new customers. They’re usually good deals when you first sign up, but you’ll need to keep an eye on when they end and might want to switch as soon as they do.
Some accounts also have limited access – for instance, only allowing a certain number of withdrawals each year. If you exceed these, you may be punished with a lower interest rate or the account may automatically close. To avoid any nasty surprises, it’s worth checking the terms to make sure you’re clear on how the account works before you sign up.
How we determine the best rates
The Best Buy tables show the best savings rates widely available in the market. This means certain accounts are excluded, such as those that require minimum deposits of more than £25,000 or are available only to local or existing customers.
The data in these tables is provided by Savings Data Limited and is compiled using automated tracker tools and updates from savings providers. Savings Data Limited then manually checks the information and enters it into a database that feeds the live tables, which update daily.
The savings accounts shown are protected by the Financial Services Compensation Scheme (FSCS), which covers up to £120,000 per person, per financial institution. The information in this article is intended for information purposes and should not be taken as endorsement or advice.
Best easy-access savings accounts for July 2026
See the table below to see the current top-rate easy-access savings accounts.
There are lots of other accounts that will let you access your cash whenever you want to. See our guides to the best current accounts that pay interest, the best regular accounts and best notice accounts – not to mention our guide to the best cash Isas, which lists out a range of the top tax-free accounts.
For options on the top rates when you lock your cash away for a year or more, see our guide to the best fixed-rate bonds.
Expert opinion: Things to consider when choosing an easy-access savings account
Caitlyn Eastell, of Moneyfactscompare.co.uk, said: “Easy-access accounts are useful for keeping an emergency fund to cover any unexpected costs, as they allow savers to dip in and out when needed.”
But there are downsides, she added: “As the money isn’t locked away, it may be more tempting for savers to unnecessarily withdraw cash.
“The interest rates on easy-access accounts are variable, so could drop at short notice. In some cases, the number of withdrawals may be limited and, if exceeded, may cause the rate to drop dramatically.”
Mark Hicks, of Hargreaves Lansdown, added: “Easy-access accounts are probably the most popular in the market at the moment, offering good rates.
“However, clients do need to be aware that this rate is not guaranteed. It is important to monitor the easy-access product as quite often clients forget and then a year later, realise the rate is not attractive.”
Variable interest vs fixed-rate
Easy access accounts are almost always variable, which means the interest rate can change at any time. This tends to follow changes to the Bank of England’s Bank Rate, which is why savings rates are currently on the decline.
Fixed-rate accounts, as the name suggests, keep the same rate for the duration of the fixed term.
Both have pros and cons, depending on what’s happening with the savings market. Signing up to a fixed rate can shield you in times where rates are on the way down and, to compensate for the fact that most of these accounts don’t allow withdrawals during the fixed term, the rates they offer are usually higher.
However, in times when savings rates are rising, having your cash stuck in a fixed rate account can mean you’ll miss out on higher interest elsewhere – so a variable-rate account could be the better option.
Easy-access account FAQs
What is the difference between instant-access and easy-access?
While instant-access and easy-access accounts are very similar, the slight difference is that instant-access accounts allow you to make withdrawals directly from the account, with no limit on how much you can withdraw or when you can take money out.
An easy-access account can include some restrictions, such as those we’ve mentioned above. Easy-access accounts might also have daily withdrawal limits and you might need to transfer the cash to a current account before you can actually spend it.
How much should I have in easy-access savings?
It’s generally accepted that you should have between three and six months’ worth of living expenses saved to fall back on in an emergency. If you’re retired, this increases to one to three years’ worth. It’s good to hold this money in an easy-access account that allows you to withdraw quickly, whenever you might need it.
If you have larger sums that you don’t need access to, you might find a better rate by putting it in a fixed-rate bond, or you might consider investing.
What is the minimum balance for an easy access account?
The minimum balance for an easy-access account can vary hugely, and it’s not uncommon to see accounts requiring anything from as little as £1 up to £10,000. Shop around for the account which best suits your needs and budget.
