Easy Access Saving Accounts

Whether you pay tax on the interest earned in an easy access savings account depends on the amount of interest earned per tax year.

If you have an easy access Cash ISA, you can save up to the annual ISA limit without paying tax on the interest you earn. If you save into a non-ISA easy access account basic rate taxpayers can earn up to £1,000 in interest before they would be required to pay any interest. For higher rate taxpayers, the threshold is £500. More information about the personal savings allowance can be found on the GOV.UK website (External).

Easy access savings accounts could be a great way to save for emergencies, such as a new boiler, or car repairs, as you’ll be able to withdraw the required funds quickly. They could also be useful if you’re saving regularly for a specific goal, such as a holiday, a new car or a house deposit.

Interest on easy access savings accounts is usually paid annually. Some accounts may enable you to select monthly interest payments, but this will depend on the account's terms and conditions.

Our easy access savings accounts can be opened and managed in a branch. Once the account has been opened in a branch, account holders can register for eSavings to view the account online.