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Easy Access

1.25%AER* (variable)

  • Simple and easy to access online account
  • Monthly or annual interest
  • Save from £1 up to £500,000

Is this the best savings account for you?

  • You want access to your savings, should you need it
  • You are happy to manage your account online
  • You want to be able to make additional deposits

Looking for something else?

View all savings accounts
Savings account summaryEasy Access
Account name Easy Access savings account (Issue 6)
What is the interest rate? Annual: 1.25% Gross** / AER*
Monthly: 1.24% Gross** / 1.25% AER*
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.
** Gross is the rate of interest payable before any income tax is deducted.
Interest will be paid monthly on the day of the month you first paid into your account or annually on the anniversary of making your opening deposit.
Can Paragon Bank change the interest rate? The interest rate is variable. Please see 5.12 in General Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit? £1,012.50 based on £1,000 over 12 months at 1.25%

This is for illustrative purposes only and does not take into account individual circumstances.
How do I open and manage my account? Online. Minimum balance £1 up to a maximum of £500,000 (plus any resulting interest). Account holders must be aged 18 or over and a UK resident for tax purposes.
Can I withdraw money? Yes, you can make withdrawals from this account.
Simply log into your account and follow the instructions on screen.
Additional information You have up to 28 days from the date of your application request to make your opening deposit. After 28 days the account will be closed.

All deposits must be made from your nominated bank account. This account must be in the name of the savings account holder.
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Already a customer?

Simply login to open a new account with us

 

Why choose this savings account?

  • Simple and easy to access online account
  • Monthly or annual interest
  • Save from £1 up to £500,000
fixed_new_customer

New customer?

Apply now

The relevant terms and conditions documents can be found below, available for download

What you will need
Important information
Terms & conditions
  • Your contact details
  • Your email address
  • Details of the UK current account, in your name (either as sole or joint holder), that you would like to set up as your nominated bank account

Power of attorney

If you are applying for this account as a power of attorney, you will need to call our customer services team on 0800 052 2222 to complete your application. For further information about power of attorney please visit our FAQs.

Deposits

Make deposits by electronic bank transfer or cheque. Additional deposits can be made (subject to not exceeding your maximum balance).​

All deposits must come from the nominated bank account. This account must include your full name, either as a sole or joint holder.

Existing customers can make a deposit from their existing Paragon accounts (subject to account terms and conditions).

Withdrawals

You can make withdrawals to your nominated bank account (subject to the account not falling below the minimum required balance)

Closing your account

You can close the account by withdrawing all funds.

Your account will be closed if it falls below the minimum required balance.

Interest rate changes

This is a variable rate account where the interest rate may change. We will email you about any changes

Change When we'll email you
Increase in rate Within 30 days of the change
Decrease in rate At least two months before the change

If you do not close your account we will take it that you have accepted the change

Keeping you informed

We have a duty to tell you important information about your account as part of our terms and conditions. As these are service messages you won’t be able to opt out of receiving them

Before you apply for your account please make sure you have read and understand both our Product Terms and Conditions and General Terms and Conditions


customerstorytile_fionafaulkner
The easy access account not only offered a competitive rate but it was also very easy to open and simple to manage online, meaning I could access my savings when I need to

Fiona Faulkner

customerstorytile_catherinegeddes
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

customerstorytile_ericskerry
The account was easy to open and, using the online interface, it’s simple to deposit money and access my savings when I need them.

Eric Skerry

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