Savings
4 min read
•
February 2026
Easy Access vs Fixed Rate: how to choose the right savings account in 2026
Fixed-rate accounts almost always pay more than easy access. But that doesn't mean they're always the right choice. Here's a framework to help you decide.
The trade-off
Easy access: withdraw anytime, but rates can drop. Fixed rate: higher rate, but your money is locked away (or you lose interest if you withdraw early).
As of early 2026, the gap is roughly: easy access ~4.5%, 1-year fixed ~4.8-5.0%, 2-year fixed ~4.5-4.7%.
When easy access wins
- Emergency fund: You need this accessible — that's the whole point
- Saving for something in <12 months: Holiday, car, etc.
- You think rates might rise: You can move to better deals
- Life is uncertain: Job changes, house moves, etc. might require funds
When fixed rate wins
- House deposit with a set completion date: You know exactly when you'll need it
- You think rates will fall: Lock in today's rate
- You want to remove temptation: Can't spend it if you can't access it
- Money you genuinely don't need for years: But consider whether investing might be better
💡 The ladder strategy
Split your savings across terms: 1/3 easy access, 1/3 in a 1-year fix, 1/3 in a 2-year fix. As each matures, reassess. This balances rates and flexibility.
Notice accounts: the middle ground
Notice accounts (30, 60, 90, or 120 days) often pay close to fixed rates but with more flexibility. You give notice, wait the period, then withdraw. Good if you might need the money but can plan ahead.
🔧 Compare accounts
Our Savings Finder shows both easy access and fixed rates, filtered to your needs.