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Access accounts explained

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.​

Whether you want to keep your savings within reach for a ‘rainy day’ or you're happy to limit your access in exchange for a higher rate, you can decide with our great range of access accounts.

Our Access accounts

Defined Access accounts

Notice accounts

Easy Access accounts

Moneycomms Top Performer 2022
The judges were impressed with the consistency of market-leading interest rates on offer from Paragon Bank throughout the last 12 months and liked the simplicity and flexibility of the products. The option to have interest paid monthly is also a big plus for savers in the current market.

Andrew Hagger | Founder of MoneyComms

Was very concerned joining a non-household company. I hate doing things online too but it really was a simple stress free process. I can see why Martin Lewis has you highly rated. And the interest rate is great, better variable rate than any others. Thank you Paragon.

- Sarah Brett

Paying into an 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.

ISA transfer rules

You can easily transfer your existing ISAs from other providers to Paragon.

To keep the tax-free ISA status on your savings, make sure you transfer your ISA through your provider and not through a withdrawal.

Personal Savings Allowance

Launched in 2016, the Personal Savings Allowance lets you earn a certain amount of tax free interest on your savings.

If you’re a basic rate taxpayer, you can earn up to £1,000 of tax-free interest. Or, as a higher rate taxpayer you can earn up to £500. But if you pay additional rate tax the personal savings allowance isn’t available to you.

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