Best instant access savings account

Find the best instant access savings account online and save yourself some time. Hopefully our quick round up below featuring some of the best performers should help you in the right direction. This information is current as of the 9th September 2009 and will of course be subject to change.

Coventry Building Society, 1st class postal

You can open the account in branch but once opened you can only operate this account by post. Minimum investment is £1,000 and the interest rate is variable (currently 3.30% AER including a 1.30% AER bonus for the first year of investment). They allow four cheque withdrawls per year which are without penalty. A monthly interest option is also available.

ING Direct, Savings Account

An ING Direct Savings Account will provide you with a guaranteed interest rate of 3.20& AER for the first 12 months. Interest is paid monthly on this account. However, after 12 months the rate will revert back to the ING Direct Savings Account variable rate, currently 0.50% AER. There are no charges for withdrawing money from you account and you can open an account for as little as £1.00. Internet access to your account is also available.

Alliance & Leicester, Online Saver Issue 5

This account pays interest annually and the current interest rate of 3.15% AER includes a variable bonus of at least 1.65% payable for at least 12 months. There are no withdrawl charges and a minimum deposit of £1,000 is required. Paying in to the account is easy and you can access your money within 24 hours if transferring to an Alliance & Leicester current account or 4 working days to an account from another provider.

Birmingham Midshires, Telephone Extra

This savings account provides the saver with easy access to their funds by telephone. The current interest rate is 3.15% variable AER, which includes a bonus of 2.65% gross for the first 12 months. You can invest any sum from as little as £1 up to £1 million.

Citibank, Flexible Saver Account Issue 5

This popular Citibank account currently pays 3.06% gross interest per annum for the first 12 months. The underlying rate is currently 1.00% AER. This introductory offer includes a 12 month fixed bonus rate of 2.06% gross per annum. It takes just a few minutes to apply and savers can invest from just £1 to £1 million. Not only is telephone banking offered with this account but internet too, 24hrs a day, 7 days a week. There are no penalties for transferring money to and from the account.