Best savings account for instant access and fixed term

Any suggestions - i am getting 1.4% with my current bank but looking for instant access.

Buy short-dated low coupon gilts via AJ Bell or Interactive Investor.  (Almost) no income tax and CGT free.  Instant access in that you can sell them whenever you want.

I don't know why anyone with a non-negligible amount of money uses savings accounts.

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Among other things, you can get about 7% on regular savers, 5% from Barclays on up to £5k if you have blue rewards (only worth it if you have a mortgage or loan with them), and circa 4.5% on some instant access and 6 month fixes from dodgy sounding banks that are still FSCS protected I think. 

Also bear in mind you can get up to 60% on SIPP investments if you earn more than £100k and 25%ish comes back to you in cash. Also a lifetime ISA gets you 25% on £4k per year.  

As of yesterday you could get 4.69% on UKT 0.125 01/24.  You would only pay income tax on 0.125% of that.

You'd have to pay £9.95 dealing charge for every transaction so not worth it for small amounts.


You have to pay 0.25% per year platform charge (capped at a maximum of £3.50 per month)

Yup short dated are 4.5%ish yield to redemption and the coupons are tiny if they were issued in the ZIRP period.  All the yield comes from pull-to-par which for gilts is CGT free.

Long dated you obviously have a ton of interest rate risk if you are planning to sell before redemption.

Might also be worth looking at index linked gilts because real yields are now +1%.  The inflation uplifting part of the redemption value is also CGT free.  Not sure how liquid they are - never tried to buy them.