2 savings account corkers from Shawbrook Bank - Savings - News - Moneyfacts


2 savings account corkers from Shawbrook Bank

2 savings account corkers from Shawbrook Bank

Category: Savings

Updated: 01/05/2014
First Published: 20/01/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Which savings accounts are best? It's an age old question, but one that is even more important at the moment with rates being so low.

To get the best savings rate you need to think about how much access you need to your money.

You can tie it up for longer in a fixed rate bond, but you won't necessarily be able to get at your cash (if you can you'll no doubt forfeit a fair amount of interest). Alternatively you could opt for an easy access account but at the expense of not getting the very best rates available.

Notice savings accounts strike a happy medium between access and rate. They also usually pay an interest rate that's not reliant on an introductory bonus. That means that, unlike most of the better paying easy access accounts, you've got a savings account with a solid rate that you don't need to change every 12 months.

2 corking notice savings accounts

At the moment, the moneyfacts.co.uk notice account best buys are dominated by one name – Shawbrook Bank.


Shawbrook Bank
120 Day Notice Personal Savings Account Issue 1


Minimum investment £1,000
Get at your money after giving 120 days' notice

Shawbrook Bank
95 Day Notice Personal Savings Account Issue 1

Minimum investment £1,000
Get at your money after giving 95 days' notice
Information correct as at 20.1.12

Who is Shawbrook Bank? Are they safe?

If you haven't heard of Shawbrook Bank don't worry. It might not be a high street name that you are familiar with, but it does hold a UK banking licence.

That means that you get the same depositor protection with it as you'd get with Lloyds, Barclays, etc. – up to £85,000 held with Shawbrook is protected.

Find out more about Shawbrook Bank.

Who are notice accounts good for?

Notice savings accounts can be suitable if you:

  • Know the date, or period sometime in advance that you'll need to withdraw your money – such as to pay school fees, or to pay a tax bill.
  • Don't want to tie up your money in a bond where you might not be able to access it (or, where if you can, you will forfeit interest).
  • Want to earn a better interest rate and are prepared to not have immediate access to your savings.

To conclude…

If you're looking for a notice account, Shawbrook offers a couple of competitive accounts – with 95 and 120 day access. Both these accounts pay more than the best easy access account: Nationwide Building Society's MySave Online Plus Issue 4 (3.12% AER).

On the other hand these notice accounts don't pay quite as much as the top 1 year fixed bond from the AA at 3.60%. However, the AA bond won't let you get at your money for a year.

What next?

Compare notice savings accounts
Compare 1 year fixed rate bonds
Compare easy access savings accounts

Search all savings accounts

More tips

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Best savings rates

Get a snapshot of the top best buy savings accounts, fixed rate bonds and cash ISAs to help you get more from your money.

Average five-year fixed bond rate falls below 2%

Long-term fixed rate bonds used to be the top solution for savers looking to get a decent return on their savings, but unfortunately, times have changed, with our latest data revealing that the average five-year rate has fallen to a new record low.

Savings rates plummet to fresh lows yet again

It’s becoming a recurring theme, and unfortunately, it’s showing no signs of stopping. Savings rates have plummeted to fresh lows once again as the impact of the base rate cut continues – and this month, product availability has followed.