This is a bank account which allows you to have access to your savings instantly (or within a short time period) without having to give notice. As the account is flexible a lower interest rate is offered, but this form of saving acts as an emergency fund, providing cash if you really need it. If you are able to lock your cash away, then a fixed savings account will offer a more competitive rate of interest.
The Top Interest Rate Accounts:
Interest Rate: 3.46% (including 0.5% bonus for 6 months)
Interest Paid: Monthly
Min. Opening Balance: £10,000
Withdrawals: No interest paid in months when money has been withdrawn
Access: Online
Interest Rate: 2.75%*
Min. Opening Balance: £1
Withdrawals: No penalties
Access: Online
*Includes a large 12 month bonus, would be advisable to switch to another account when bonus expires
Interest Rate: 2.5% (1.25% bonus for 12 months)
Min. Opening Balance: £1
Withdrawals: No Notice or Penalties
Access: Online
Note: Only for new Egg customers
