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Why choose an easy access account?

If you want to build your savings with no hidden catches or nasty surprises and have complete access to your money, then an easy access account could be perfect for you.

There are no limits or restrictions on how many times you can add to or withdraw from our easy access account, so you can build your savings however you want and enjoy the comfort of knowing your money is within easy reach should you need it.

With the option to choose monthly or annual interest payments, you can open an easy access account with as little as £1 and save up to £500,000.

Paying into your easy access account

Your initial payment into your easy 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 deposits into your easy access account, as long as you don’t exceed the maximum balance allowed on the account.

Current easy access accounts

View our competitively priced easy access accounts currently available

Easy Access 0.50%
Easy Access ISA 0.50%

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

Easy access account rates

Our easy 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 earn tax-free interest through the Personal Savings Allowance. Depending on your income tax banding you can earn up to £1,000 of tax-free interest.

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.

Easy Access Cash ISAs

Our easy access accounts are available as cash ISAs as well as savings accounts. With a cash ISA the interest you earn is tax-free, both now and in the future.

Our Easy Access Cash ISA is part of our ISA Wallet and Flexible ISAs, giving you the freedom to spread your annual ISA allowance across our range of cash ISAs. Any withdrawals you make are added back onto your annual ISA allowance to reinvest with us, so you won’t lose out on your tax-free savings.

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 are permitted – you choose when you want to access your money.

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

Launched in 2016, the personal savings allowance allows you to earn interest on your savings tax-free.

There are limits depending on your tax banding. Currently £1,000 for lower rate tax payers, £500 for higher rate but if you earn more than £150,000 the Personal Savings Allowance doesn’t apply.

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.

You can start a new ISA subscription up to the ISA allowance and transfer your previous years ISAs.​


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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