A couple of questions

Calibos

Hi, Im just about to open an easy access savings account & wanted to know that if the interest is paid annually but you close your account maybe a couple of months before the day that the interest is paid, do you lose that years interest or is it paid to you when you close the account ?

The account I've been looking at is the (Regular Savings - Special Interest Deposit Account) from Ulster Bank, its paying 3% AER. Im going to be paying in £1000 a month but want easy access.
Is this the best rate for me?

Thanks

Reaper

All savings accounts work out their interest daily. You will be given the accrued interest when you close the account regardless of when it is normally paid so you won't lose out.

LittleVoice

Just read the terms of any account you are opening. Although interest will be calculated up to the time of closure, there can be penalty clauses for early closure. As an example, there might be a deduction of three months' gross interest as a penalty. In other cases, it is not possible to close an account early.

I have now had a quick look at the account mentioned by the OP and there are penalty free withdrawals. It looks like a good account for someone saving £1K/month.