6 of the best notice savings accounts - Savings - News - Moneyfacts

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6 of the best notice savings accounts

6 of the best notice savings accounts

Category: Savings

Updated: 12/10/2016
First Published: 12/10/2016

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.

Top 6 notice accounts:


Al Rayan Bank
120 Day Notice
1.51% AER
  • Minimum investment of £250
  • Further additions allowed at any time
  • Withdrawals permitted subject to 120 days' notice being given
  • No earlier access
  • Account can be managed online, in branch, by post, by phone and by smartphone app
  • Interest is paid monthly (must be compounded)
  • Sharia'a compliant account

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.


Raphaels Bank
Sapphire Account Issue 2
1.40% AER
  • Minimum investment of £5,000
  • Further additions permitted
  • Withdrawals allowed subject to six months' notice being given
  • One instant access withdrawal of up to 10% of the account balance permitted per year, but after this, no earlier access will be allowed
  • Account can be managed in branch or by post
  • Interest paid yearly and must be compounded

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
95 Day Notice Issue 12
1.31% AER
  • Minimum investment of £1,000
  • Further additions permitted at any time
  • Withdrawals allowed subject to 95 days' notice being given
  • No earlier access
  • Account must be opened and operated online
  • Interest paid on anniversary
  • Access via nominated account

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.


Hodge Bank
90 Day Notice Deposit
1.30% AER
  • Minimum investment of £1,000
  • Tiered rates of interest: 0.10% will be paid at £1K, 0.50% at £5K, 1.30% at £10K and 1.40% at £50K and above
  • Further additions permitted at any time
  • Withdrawals allowed subject to 90 days' notice being given
  • No earlier access
  • Account can be managed in branch, by phone and by post
  • Interest paid yearly

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
100 Day Notice Deposit
1.25% AER
  • Minimum investment of £500
  • Further additions permitted
  • Withdrawals allowed subject to 100 days' notice being given
  • No earlier access
  • Account must be opened online and can then be managed in branch and by post
  • Interest paid yearly and must be compounded

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
60 Day Notice Account Issue 2
1.25% AER
  • Minimum investment of £2,000
  • Further additions permitted
  • Penalty-free withdrawals allowed subject to 60 days' notice being given
  • Earlier access allowed subject to 60 days' loss of interest
  • Account can be managed in branch and by post
  • Interest paid half-yearly and must be compounded

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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