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Other National Savings
Bank and Building Society accounts

NATIONAL SAVINGS

Easy Access Savings Account

An account where you can pay in and withdraw up to £300 a day in cash at any post office or using a card from a cash dispenser.

Who can invest Anyone. Accounts can be held jointly.

How worthwhile Convenient if you don't have access to a cash dispenser. Poor value under £1,000. Fair value for £50,000+ and good if you don't like the idea of placing your money with a bank , see Risk below. Compare with Bank and Building Society Instant Access Account and/or Bank and Building Society Postal or Phone Account and/or Bank and Building Society Cash Card Account.

Minimum Minimum balance £100. £10 each time you make a deposit (£500 to get higher interest).

Maximum £2 million (£4 million for joint accounts).

Suitable Lump sums. Regular savings.

Money back On demand up to £300 a day. Money can be paid in and out at post offices. Larger withdrawals by phone or post and are paid by bank transfer to another bank account (i.e. you won't be able to get a cheque). Minimum withdrawal £10.

Interest Variable. Click here for the latest rates.

Interest paid Yearly added to account on 31 March.

Tax Not deducted. Taxpayers are liable to pay income tax at 10%, 20% or 40% on the excess over the amount of the personal tax allowance; all interest should be declared on a tax return.

Fees to pay None.

Passbook No. Quarterly statements are sent.

Children Under 7 a relative or friend can open an account in a child's name where withdrawals may be made by the child's parent or guardian. At age 7 the child can withdraw on his or her own signature.

Risk None. Full value of original investment returned on withdrawal. As National Savings & Investments is a Government department, this is one of the safest homes for your money if you have large amounts to invest. In effect 100% of your investment is guaranteed by the Government.

How to invest On-line. By phone. By post.

Where from You can apply on-line or phone 0845 964 5000 and if you want a trustee account.

Other National Savings
Bank and Building Society accounts

Last updated 23 June 2008.