Best savings accounts 2023: Top 10 easy access savings accounts with high interest rates | Personal Finance | Finance

Zopa bank’s Smart Saver places fourth with an AER of 2.86 percent and offers slightly more flexibility to account holders.

There is no minimum deposit requirement and interest can be paid away or compounded, and savers can open an account using the Zopa app. Withdrawals are permitted without any penalties and up to £85,000 can be invested.

Ranking fifth is Al Rayan Bank’s Everyday Saver (Issue 3) with an AER of 2.81 percent.

A minimum of £5,000 must be deposited to open this account and interest is calculated and credited to the account on the last day of every month. People can make unlimited withdrawals free of charge, and up to £1million can be invested overall.

Tipton & Coseley BS’ Limited Access (Issue 2) places sixth with an AER of 2.8 percent.

A minimum deposit of £100 is required to open the account and interest is calculated daily and applied monthly on December 31. However, the 2.8 percent rate is only applied to funds of £25,000 and over. An AER of 2.5 percent will be applied to any balance lower than this.

Savers can withdraw up to three times in one year without notice or a charge. After the third withdrawal, no further withdrawals, including account closure are allowed until the following calendar year.

Chorley Building Society’s Easy Access Saver places seventh with an AER of 2.75 percent.

The account can be opened with a minimum deposit of £500 and up to £500,000 can be invested. Interest is calculated daily and paid annually on December 31 and up to four withdrawals are permitted per calendar year without penalty.

Additional withdrawals will result in a lower rate of interest equivalent to Chorley BS’ Instant Access Account rate (currently one percent AER) being paid for the rest of the account year. The account year runs from January 1 to December 31.

Eighth on the list is Chase’s Saver Account with an AER of 2.7 percent.

There is no minimum deposit to open the account and interest is calculated daily and awarded to accounts monthly. Unlimited withdrawals are also permitted.

Chase bank accounts also offer a number of additional benefits, including a one percent cashback on everyday debit card spending for the first 12 months and five percent interest on round-ups.

Customers can also enjoy zero fees on transactions abroad, as well as in-app card control to freeze spending as and when.