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Instant access accounts

Compare instant access savings accounts

Keep some money safe for a rainy day or in case of emergency with an instant access savings account. Compare interest rates from top providers with Confused.com to find the right account for you and your money.

Saving for a short term goal?

Whether you're saving for a holiday or a car, or just a new outfit, an instant access account can be a great way to keep track of your savings, letting you build your savings pot and earn interest too.

Compare instant access accounts

Ranked in order of Interest Rate (AER)


  • Minimum
    opening balance
  • Interest rate
    (AER)
  • Manage your
    account
  • Interest
    paid
  • Unlimited free
    withdrawals?

Instant access FAQs

  • What is an interest rate bonus?
    Answer: Some accounts offer a higher rate of interest on your savings for a limited period, typically the first 12 months. Where an account does offer a bonus this is included in the interest rate (AER). To ensure you continue to get a good return on your savings you may want to check every so often to see if you could get a better deal.
  • How can I withdraw my money from my account?
    Answer: This varies by provider. Many instant access accounts offer cash cards so you can withdraw your money at a cash point, while other accounts may need you to call or go online to get the money transferred to another account.
  • Does it matter when my interest is paid?
    Answer: Depending on what you want to get from your savings a monthly interest payment will often let you use that money while your savings pot stays in the account. An annual interest payment won't provide this regular income but will often give you a marginally better return.

Understanding Savings Accounts

What is an Instant Access Account?

If you want to be able to withdraw your cash, if you are saving for short term goals for example, then an Instant Access Account could be worth considering. It can be useful to always have some of your savings easily available should you need to use some in an emergency.

There is no limit to how often you can access your money while it’s in the account- you can dip in to your savings or pay more in as often as you like.

Instant Access Accounts tend to pay more interest than a current account, but often less than an ISA or fixed rate bond. This is due to the increased freedom banks have to invest your money when they know they have your savings for a set period of time. When you can access your savings at any time, your provider will have to be more careful with their use of your money. With an Instant Access Account you’ll also pay tax on any interest earned on your savings, whereas an ISA is tax-free.

Instant Access Accounts tend to pay more interest than a current account, but often less than an ISA or fixed rate bond. This is due to the increased freedom banks have to invest your money when they know they have your savings for a set period of time. When you can access your savings at any time, your provider will have to be more careful with their use of your money. With an Instant Access Account you’ll also pay tax on any interest earned on your savings, whereas an ISA is tax-free.

For a more comprehensive view of all savings accounts, including Instant Access accounts, take a look at our Savings Guide.