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Why choose an access account?

Access accounts can be a great way to build your savings pot if you want the freedom to add to your savings whenever you want but still have access to your money. We offer three different types of access accounts.

Easy Access Accounts

A simple and straightforward account. Enjoy unlimited deposits and restriction free withdrawals. Apply for and manage your account online.

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Defined Access Accounts

Make deposits whenever you want and earn more interest by limiting your withdrawals. Apply for and manage your account online

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Notice Accounts

You can add to, and access your money whenever you like, as long as you give us a little notice. Apply for and manage your account online.

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Paying into your access account

The opening payment into your access account will need to be made within 28 days of the date of your application, otherwise your account will be closed and you'll need to re-apply.

You can make unlimited additional payments into your access account, as long as you don’t exceed the maximum balance allowed on the account.

Current access accounts

View our competitively priced access accounts currently available

Easy Access 0.50%
AER*
Apply
40 Day Notice 0.75%
AER*
Apply
120 Day Notice 1.10%
AER*
Apply
Easy Access ISA 0.50%
AER*
Apply
40 Day Notice ISA 0.75%
AER*
Apply

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.

Access account rates

Access accounts are variable rate accounts, which means that the interest rate can change over time.

We will always let you know about any changes to the rate on your account.

Personal Savings Allowance

You can still earn tax-free interest if you open a savings account rather than a cash ISA. The Personal Savings Allowance allows you to earn tax-free interest on your savings. Remember this is a government scheme and can change.

You can earn £1,000 of tax-free interest per tax year if you’re a lower rate taxpayer, and £500 of tax-free interest for higher rate taxpayers. If you earn more than £150,000 the Personal Savings Allowance doesn’t apply but you can still open cash ISAs and earn tax-free interest on your cash savings.

Access Cash ISAs

Our access accounts are also available as cash ISAs. They have many of the same features as our regular access accounts but the interest you earn is tax-free, both now and in the future.

This account makes it very easy for me to transfer money into my savings and back out again whenever I need to use it.

- Catherine Geddes

What else should you know?

Making deposits

Once you’ve opened an account, you can make your opening deposit and add to your savings at any time.

Withdrawals

Withdrawals are permitted – you choose when you want to access your money. Subject to your product terms and conditions.

Nominated bank account

When you open your account, you will be asked to enter the details of your nominated bank account. This is the account that you will need to make your deposits to and withdrawals from.

Online account

The account is operated online, giving you the flexibility to check your balance and print statements around the clock.

Personal Savings Allowance

You can still earn tax-free interest if you open a savings account rather than a Cash ISA. The Personal Savings Allowance allows you to earn tax-free interest on your savings. Remember this is a government scheme and can change.

You can earn £1,000 of tax-free interest per tax year if you’re a lower rate taxpayer, and £500 of tax-free interest for higher rate taxpayers. If you earn more than £150,000 the Personal Savings Allowance doesn’t apply but you can still open Cash ISAs and earn tax-free interest on your cash savings.

ISA allowance

Our range of cash ISAs allow you to make use of your ISA allowance and transfer any previous ISAs you may already hold. Any deposit you make into a cash ISA, will earn tax-free interest. This is in addition to your Personal Savings Allowance. With our Easy Access Cash ISAs, you can access your money with no restrictions. Start a new ISA subscription up to the ISA allowance and transfer your previous years ISAs.​

Documents

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FAQs

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Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551