Double Access Account

With the Double Access Account, your interest rate depends on how many times you take money out in any anniversary year. You’ll get the benefit of the higher interest rate if you make two or less withdrawals in an anniversary year. If you make three or more withdrawals, the lower interest rate of 0.10% AER* will apply from the day of your third withdrawal to the day before the annual anniversary of your account opening.

Up to 0.60%
AER*

Open an account

Apply online and open a Double Access savings account with Aldermore. It’s easy convenient and secure. Open an account, complete identity checks and move your money in minutes.


Double Access Account Issue 1

  Gross Annual Interest  Gross Monthly Interest  AER*
Two or less withdrawals per year 0.60% 0.60% 0.60%
Three or more withdrawals per year  0.10% 0.10% 0.10%


Your interest rate depends on how many times you take money out in any anniversary year. An anniversary year is the 12 month period commencing on the opening date of your account and then renewing on each annual anniversary. The lower interest rate will apply from the day of your third withdrawal to the day before the anniversary of your account opening. From your anniversary date, your interest rate and withdrawals reset.

Interest is calculated daily, and paid monthly or annually.

You can choose to have your interest paid to your Double Access Account, any other Personal Savings account you hold with us that allows deposits, or your nominated UK bank or building society account. A payment of interest away from your Double Access Account won’t be classed as a withdrawal.

  Deposit at Account Opening Balance After 12 Months Interest Earned
No withdrawals  £1,000 £1,006.00 £6.00
£50,000 £50,300.00 £300.00
Three withdrawals  £1,000 £701.06 £1.06
£50,000 £49,768.18 £68.18


The examples above assume that one lump sum is deposited at account opening, that no further deposits are made and that interest earned is paid to the account annually.

The examples showing three withdrawals assume that withdrawals of £100 are made on the 14th, 21st and 28th day from account opening. The lower interest rate is applied from the day of the third withdrawal and then applies until the day before the anniversary date of the account being opened.

These are only examples and do not take into account your individual circumstances.

  • To open an account you need to be aged 18 years or over, resident in the UK and only tax resident in the UK. Our accounts cannot be held in trust or by US Persons (meaning US citizens, residents, green card holders or taxpayers in respect of their worldwide income)
  • The maximum number of account holders for this account is two
  • You can open and manage your account online. We will accept instructions in relation to the account through our Internet Banking Service
  • The minimum deposit required to open this account is £1,000
  • The maximum balance for this account is £1,000,000
  • You can only open one Double Access Account, whether held in your sole name or held jointly with someone else
  • Yes, you can make unlimited withdrawals to your nominated account or transfers to any other Personal Savings accounts you hold with us that allow deposits
  • If you make three or more withdrawals in any anniversary year, you'll get a lower rate as shown above until the next anniversary date when the interest rate and withdrawals reset
  • *AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year
  • Interest is paid gross without the deduction of income tax
  • If you change your mind within 14 days of opening your account we will cancel your account without penalty or notice

If you would like more information, or if you wish to open an account under power of attorney, please contact us before you open your new account.

Our accounts are open to a wide range of people for a wide range of needs, just so long as you:

  • have a UK bank or building society account, on which you’re named as an account holder. This is your nominated account and you’ll need the sort code and account number to hand when you open your new account with us. You can only transfer money into your Aldermore account from this account
  • are aged at least 18
  • are resident in the UK and only tax resident in the UK. Our accounts cannot be held in trust or by US Persons (meaning US citizens, residents, green card holders or taxpayers in respect of their worldwide income)
  • have read the Double Access Account Summary Box and Personal Savings Terms and Conditions


You can only open one Double Access Account, whether held in your sole name or held jointly with someone else.

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

The rates we have previously paid on our Double Access Account are shown on our Historic Rates Page

We reserve the right to withdraw this product from sale at any time.

  • Personal
  • Personal Savings