Personal Easy Access Deposit Account

Open your Easy Access Deposit account at 0.75% AER (variable).

Key product information for your Personal Easy Access Deposit account

Account name
Personal Easy Access Deposit account

What is the interest rate?


Balance Gross rate (%) AER (%) Interest Rate (%)

Easy Access Deposit Account

£1,000 - £100,000




Interest is calculated on the closing daily balance and applied to the account on the first day of every subsequent month.

Can OakNorth Bank change the interest rate?

Yes. Interest rates are variable and can be increased or reduced at any time at our sole discretion as outlined our Terms and Conditions.

If we increase your interest rate, we will notify you within 30 calendar days of the increase and apply the change immediately. If we decrease your interest rate, we will notify you at least 30 calendar days prior to the decrease.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Initial deposit at account opening

Balance after 12 months



This is only an example for illustrative purposes and do not take into account your individual circumstances.

These examples assume that; no further deposits or withdrawals are made, that any interest earned stays in the account, and that there is no change to the interest rate.

How do I open and manage my account?

Our accounts are available to individuals, aged 18 or over, who are ordinarily resident in the UK (i.e. England, Wales, Northern Ireland and Scotland) for tax purposes and have a permanent UK address. Also, you must have a personal UK bank or building society account that allows transfers to be made to and from it.

Applications to open an account must be completed online.

The minimum deposit required to open your account is £1,000. The maximum deposit you may pay into a Easy Access Account with us is £100,000.

The maximum amount that you may hold on deposit with us across all types of accounts is £250,000.

There is no limitation on the number of deposits made into your account. The account can continue to receive deposits up to the maximum principal account balance even if the product is withdrawn. We may withdraw a product at any time which means that the product will be closed to new deposit applications.

Once you activate online banking, your account can be managed via the ' My Account' section of our website.

If for any reason you need to contact us, this can be done by email, by phone or by writing to us. Please refer to our website for our contact details.

Can I withdraw money?

Yes, there is no term for an Easy Access Deposit account and no limitation on the number of withdrawals. There is a minimum withdrawal amount of £500, or the full balance amount if the account balance is less than £500. No notice of withdrawal is required and withdrawals can be made at any time back into your nominated account.

Additional information

Interest will be paid gross.

Gross rate interest is the interest payable without taking account of any tax payable.

AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once a year.

Please note: The information provided in the summary box, is a summary of the key features of our Easy Access Deposit accounts. It should not be used as a substitute for our terms and conditions which can be found on our website.

Frequently Asked Questions

  • Do you offer Joint accounts or accounts for businesses, corporates, charities, or other types of organisation?
    No. We currently only offer Individual accounts.
  • Can I apply for an account over the phone, by post or in a branch?
    No. We only accept applications online through our website.
  • What happens after I apply?
    Once you have submitted your application:
    • If your application is successful, you will receive an email with the bank details you need to fund your new account.
    • If we need additional information from you to complete your application, you will be provided with details of what you need to send to us.
    • If your application is unsuccessful, you will be advised that we are unable to open an account for you at this time.
  • Do you offer online access to my account?
    Yes. Once your account is funded, you will receive an email asking you to register for an online account where you can view and manage all your active OakNorth accounts.

Your savings, protected

Your eligible deposits with OakNorth Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Any deposits you hold above this limit are unlikely to be covered, unless under specific circumstances, as determined by the FSCS.

Please click the FSCS leaflet for further information or visit

For information in regards to eligible deposits, please download our Exclusions and information sheet