EASY ACCESS SAVINGS ACCOUNTS

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Easy access accounts, also known as instant access accounts, are great for people who want to put money away but need the ability to acquire their funds instantly. Easy access accounts allow you to withdraw your money, when you need it, without having to warn the provider in advance. When researching easy access accounts ask yourself when you might need the money? Some products have withdrawal penalties or short term bonuses. It is also important to consider how interest will be paid. Is interest paid monthly or annually? If you think you will make regular withdrawals then it would be better for interest to be paid monthly. See below a list of Easy Access Savings Account providers for you to compare. Which Way To Pay gives you information on withdrawal access, interest rates and unique features. Click 'More’ to go through to the relevant Easy Access savings account provider and make an application online.

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If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

PROVIDERACCOUNT

ACCOUNT

Account name

TYPE

TYPE

Account type

INTEREST AER

INTEREST AER

Annual Equivalent Rate

INTEREST GROSS

Gross interest is the annual rate of interest which is paid without the deduction of lower rate tax to eligible individuals and certain organisations

PAID

PAID

When the account pays out

ACCESS

ACCESS

How account can be accessed

MIN INCOME

MIN INCOME

Minimum amount in account

CONDITIONS

CONDITIONS

Conditions for investor

WITHDRAWAL ACCESS

WITHDRAWAL ACCESS

Where you can withdraw money from

FEATURES

FEATURES

Account features

MORE INFO

Aldermore Easy Access Account
Aldermore Easy Access Account

Aldermore Easy Access AccountEasy Access1.25%1.24%DailyInternet, Phone, Post£018 or overOnline, Phone, PostFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

1. Competitive interest rates 

2. Set level of interest guaranteed till 1 March 2013 
3. Fast and easy setup 
4. Minimum deposit £1k 
5. Access your savings any time 
 6. Withdrawal your cash whenever you want 
7. Easy to manage

Aldermore Easy Access Account
Don't want to lock your money away? Our Easy Access Account gives you full flexibility - so you can withdraw cash or add to your funds whenever you like. You get the reassurance your savings are there when you need them - along with a great rate, too. Always read the terms and conditions of any bank account in which you want to invest your money to make sure that you fully understand how it works and what your financial obligations might be. Savings accounts vary so take time to compare them as carefully as possible. DETAIL INFORMATION >>Services

Services

1. Full access to your savings account, 24 hours a day 

2. Optional Joint Account


Advantages

Advantages

1. Transparent - our competitive rates are not artificially inflated by bonuses or introductory offers 

2. Reassurance - our interest rate is guaranteed to be at least 1.70% above Base Rate until 1 March 2013 
3. Fast and easy setup - open an account, complete identity checks and move your money in minutes 
4. Accessible - open an account with just £1,000 
5. Flexible - add to your savings whenever you like 
6. Unlimited withdrawals - access your money whenever you need it, without restriction or loss of interest 
7. Easy to manage - do it online, by phone or by post


Disadvantages

Disadvantages

1. Minimum initial deposit £1,000 

2. Withdrawals Unlimited - A gross interest rate of 0.50% will apply if the balance falls below £1,000 

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

Compare Easy Access Savings Bank Accounts

The importance of saving

People put money away for any number of reasons. You might want to save for something in specific like a house, car, a holiday or wedding, your children’s future. It could be that you want to put some money way so you are covered should anything unexpected happen like you lose your job or need to pay for emergency home or car repairs.

If you want to put money aside then a savings account is where you can safely put your money, where it will earn interest over time. Savings accounts are bank accounts that people use, first and foremost, for keeping excess money safe. Savings accounts are a really easy way of growing your personal fortune and there is little risk involved.

What is a Savings Account?

Standard savings accounts are a really good method of saving for the future. In some circumstances the money you save builds up interest and the interest rates will be the main focus when considering a savings account. Savings accounts are designed to hold the money that you do not need immediate access to; these accounts will have higher interest rates.

You should make sure that you understand the restrictions of the account. In terms of disadvantages you may be charged for withdrawing money but in most cases you can withdraw money from a standard savings account at any time.

What are Easy Access Savings Accounts?

Easy access savings accounts are also referred to as instant access accounts are ideal for those who want to put money aside but want to have direct access to their savings. As the name suggests these accounts permit you to access your money without notice or penalty. However, this instant access to your funds does reduce the interest in comparison to other savings accounts.

Some banks will offer good interest rates for these accounts to gain new customers, but will lower the rate shortly after so it could work in your favour if you are willing to move your money around in return for the best interest rates available. Consider whether the interest rate is fixed or variable before you open the account.

How to compare easy access savings accounts?

If you are clever about the way you save with easy access savings accounts then it is possible to get a good rate of return whilst being able to receive quick access to your money. Many banks offer attractive interest rates to try and encourage clients to open new accounts, generally they lower the rate shortly after you have signed up so it is no longer as competitive. For this reason, you should always compare the fixed rate and variable rate interest rates before you commit to a bank account provider. Ensure that you make yourself aware of what the minimum balance is when you apply for this type of bank account. If you are in ant doubt then you should seek independent financial advice.

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