Instant Access Savings Rates

pridehappy

I’ve got some spare time so decided to compare the different instant access savings rates at the main banks and building societies on £1000 just to save other people having to do so. They may be better rates elsewhere, but these are just the main UK ones. I will include ones which need a current account, although none which require a paid or minimum value. I’m also not including regular savers and limited withdrawal accounts.

(AER)
Starling Bank | No instant access savings
first direct | 1.3%
Monzo | 3.4%
Chase | 3.3%
Nationwide | 2.5%
Bank of Scotland | 0.9%
Metro Bank | 1.25%
Ulster Bank | 1%
Halifax | 0.9%
Cooperative Bank | 2.09%
Virgin Money | 3.03%
Lloyds Bank | 0.85%
Santander | 2%
NatWest | 1%
RBS | 1%
Danske Bank | 2%
HSBC | 1.3%
Barclay’s | 0.7%
TSB | 0.8%
Bank of Ireland UK | 0.85%

Best | Monzo
2nd Best | Chase
3rd Best | Virgin Money
-
3rd Worst | Lloyds Bank & Bank of Ireland UK
2nd Worst | TSB
Worst | Barclay’s

inflationbuster

Marcus (Goldman Sachs) 3.5%

RG2015

I like this and it tells a story about the different providers.

You do realise that you will get responses challenging and caveating some of the entries.

I would say that Barclays have my best easy access account at 5% for up to £5,000 in their Rainy Day Saver. However, this clearly does not satisfy your criteria.

Swings and roundabouts.

RG2015

inflationbuster said:

Marcus (Goldman Sachs) 3.5%

I inferred from the list that it only included banks and building societies that had both current accounts and instant access, unrestricted savings accounts.

It interests me as I much prefer a bank where I can transfer from my current account to a savings accounts and vice versa in seconds.

Sadly, very few decent rate savings accounts are offered alongside current accounts.

pridehappy

RG2015 said:

I like this and it tells a story about the different providers.

You do realise that you will get responses challenging and caveating some of the entries.

I would say that Barclays have my best easy access account at 5% for up to £5,000 in their Rainy Day Saver. However, this clearly does not satisfy your criteria.

Swings and roundabouts.

I did consider putting the rainy day saver account, although I tried to exclude accounts which you need a monthly fee for.

I feel the same way - it’s so much easier to transfer on one app.

RG2015

pridehappy said:

RG2015 said:

I like this and it tells a story about the different providers.

You do realise that you will get responses challenging and caveating some of the entries.

I would say that Barclays have my best easy access account at 5% for up to £5,000 in their Rainy Day Saver. However, this clearly does not satisfy your criteria.

Swings and roundabouts.

I did consider putting the rainy day saver account, although I tried to exclude accounts which you need a monthly fee for.

I feel the same way - it’s so much easier to transfer on one app.

I get the fee refunded by paying in 2 direct debits as part of Blue Rewards.

Descrabled

For us in t' north the Cumberland pays 2.9% on their online saver. A bit slow moving money because the current account piggybacks off RBS.

Don't forget that club lloyds / BOS pays interest on the current account anyway.

wiseonesomeofthetime

Starling do have instant access savings.

They are called Spaces and attract a princely interest of 0.05%

Granted, it does not have a separate account number, but then neither does the Monzo 3.40% one.

I also never realised that my Virgin Savings accounts had risen to 3.03%, but given that they are all on a zero balance, I'm not sure why I would check. Interesting to see though

Edit: Just noticed RG2015's post on another thread about Virgin Money's increase from Thursday. Not happened yet, so probably why I hadn't noticed yet

RG2015

wiseonesomeofthetime said:

Starling do have instant access savings.

They are called Spaces and attract a princely interest of 0.05%

Granted, it does not have a separate account number, but then neither does the Monzo 3.40% one.

I also never realised that my Virgin Savings accounts had risen to 3.03%, but given that they are all on a zero balance, I'm not sure why I would check. Interesting to see though

VM only going to 3.03% on 1st June.

https://uk.virginmoney.com/current-accounts/pca/

soulsaver

Kroo  (Current Ac) 3.6% 01/06/23

pridehappy

wiseonesomeofthetime said:

Starling do have instant access savings.

They are called Spaces and attract a princely interest of 0.05%

Granted, it does not have a separate account number, but then neither does the Monzo 3.40% one.

I also never realised that my Virgin Savings accounts had risen to 3.03%, but given that they are all on a zero balance, I'm not sure why I would check. Interesting to see though

Edit: Just noticed RG2015's post on another thread about Virgin Money's increase from Thursday. Not happened yet, so probably why I hadn't noticed yet

Good to know! Thanks!