If you're looking to secure the best rate on your savings, you generally have one of two options – tie up your money for a set period of time, or agree to give your provider some notice before you make a withdrawal.
Option number two could well be the perfect compromise. Notice savings accounts let you access your money on the provision that you tell your provider in advance, thereby offering flexibility and decent rates in one handy package. Some providers will even let you withdraw the cash earlier should you need it, but this will usually be subject to a significant rate or interest penalty, so savers will need to be truly organised to benefit from this kind of account.
This means they're only suitable for those who are comfortable with giving that kind of notice. They shouldn't be used for an emergency fund, for example, as you probably won't have the time to give notice if an emergency hits. But if you're confident that you won't need instant access to a portion of your savings, they could be ideal.
So, with that in mind, here are the current top-paying notice accounts that can offer you a great rate with a certain degree of flexibility.
Comfortably taking the top spot is this account from Al Rayan Bank. It pays an indicative profit rate of 1.51% (1.50% gross) on a minimum investment of £250, the market-leading rate for its terms, and can be managed via several channels for the height of convenience. This account requires savers to give 120 days' notice in order to withdraw funds, but there's no limit to the number of withdrawals that can be made, and further additions are welcome at any time.
In second place is this deal from Raphaels Bank, a branch and postal-operated account paying 1.40% variable on a minimum investment of £5,000. Further additions are permitted at any time, and unlimited withdrawals are also allowed, provided six months' notice is given. However, unusually in this sector, this account also permits one instant access withdrawal in any 12-month period, provided no more than 10% of the balance is withdrawn.
Charter Savings Bank has secured a top-three position with this internet-operated deal that pays 1.31% AER from £1,000. It permits unlimited additions and withdrawals, provided 95 days' notice is given for the latter, as early access won't be permitted.
Next up is this account from Hodge Bank. It pays tiered rates of interest depending on the balance, rising to 1.40% for those with £50,000 to invest, making it particularly suitable for those with a healthy savings pot. As is common in this sector no early access will be allowed, but it only asks for 90 days' notice, the shortest term so far.
United Trust Bank secures a top-five position with this deal, a 100-day notice account that pays 1.25% AER variable on a minimum investment of £500. Savers can make further additions at will, and unlimited withdrawals are permitted subject to the required notice being given.
Raphaels Bank has managed to secure a second entry in the charts with this 60-day notice deal, which just manages to squeeze into the top six. It pays 1.25% variable on a minimum investment of £2,000 and permits further additions at any time, together with an unlimited number of penalty-free withdrawals, provided 60 days' notice is given. However, it also offers earlier access should the need arise - an unusual feature in this sector - subject to the loss of 60 days' interest, offering some welcome flexibility.
Information & Rates correct as at: 11.10.2016
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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.
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