Our favourite easy-access savings accounts

Pile of pound coins
Savers who want the ability to dip in and out of their savings pot should opt for an easy-access account Credit: Nadia Isakova / Alamy

Savers looking to deposit their money into an easy-access savings account may be disheartened by the crop of rates on offer, with most providers paying less than 1pc

Slightly higher rates are offered on easy-access cash Isas, our pick of the best can be found here, but those who have used their cash Isa allowance for this year (£15,240) will be unable to put any more money into a cash Isa account.

Remember, there are alternative ways to save that people should consider, such as in current accounts and peer-to-peer lending.

Best easy-access accounts

RCI Bank's Freedom Savings account pays a top rate of 1.1pc.

It is online only and can be opened with £100. The French provider is not covered by the UK's Financial Services Compensation Scheme which protects funds of up to £85,000.

Instead it subscribes to the French equivalent which covers €100,000. Should the bank go bust customers will claim their money back in the same way as in the UK however there may be issues with language and the exchange rate.

The Nottingham Building Society and The West Brom both offer 1.05pc.

Savers must have at least £1,000 to open both accounts. 

The West Brom's rate includes a 0.35pc bonus which is paid until March 31 2018.

Skipton Building Society pays 1.02pc  which includes a bonus of 0.21pc which is paid for a year.

Accounts can be opened online with £1.

Virgin Money pays 1.01pc and accounts can be opened with just £1. This is technically a "limited access" account as the rate drops to 0.25pc if more than three withdrawals are made in a calendar year.