What is an "Instant Access Savings Account" |
As the name suggests, instant access savings accounts give you immediate access
to your savings, without incurring any penalties. Or this was always what they used to be unfortunately some instant access
accounts now have penalties attached meaning if you make more than a certain number of withdrawals the interest rate
will drop. Generally instant access savings accounts will offer a lower rate of interest compared to savings accounts
that require you to give notice before withdrawing money. But currently if you shop around you will find that
there are instant access savings accounts available that offer higher interest rates than a lot of the notice savings accounts.
To make your life even easier above are the best and top instant access account we have found in the UK savings market.
One final thing to consider is that the leading accounts often offer a bonus interest rate for first 12 months so after 12
months you need to check that the rates offered are still competitive and if not consider switching to a different savings
account.
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The Best Instant Access Savings Accounts (last update 1st November 2011) |
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INSTANT ACCESS SAVINGS ACCOUNT DETAILS
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FURTHER INFORMATION
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COVENTRY BUILDING SOCIETY |
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rate includes a 1.15% bonus for first 12 months |
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SANTANDER
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rate includes a 2.5% bonus for first 12 months. (esaver issue 5) |
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DERBYSHIRE
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3.06%
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£1,000+
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Manage your savings online and 2.16% bonus
paid 31.03.2013
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Rate includes a 2.56% bonus for the first 12 months. |
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HSBC
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0.75%
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£1+
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HSBC online bonus saver 0.75% AER including bonus interest on savings account. £1-£50,000
when you don't make a withdrawal. If you need your money you will get 0.25% AER annual equivalent for month withdrawal
made. Account is online only and withdrawal of funds is via internet banking by transfer to another bank or savings account.
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