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6 of the best notice savings accounts

6 of the best notice savings accounts

Category: Savings

Updated: 10/02/2017
First Published: 10/02/2017

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 an interest penalty, so savers will need to be organised to benefit from this kind of account.

This means they're only suitable for those who are comfortable with giving some 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, but don't want to lock your money away for too long, they could be ideal.

So, with that in mind, here are the current top-paying notice accounts that can offer a great rate with a certain degree of flexibility.

Top 6 notice accounts:


Secure Trust Bank
120 Day Notice
(Issue 22)
1.20% AER
  • Minimum investment of £1,000
  • Further additions allowed at any time (min £1,000)
  • Withdrawals permitted subject to 120 days' notice, but only three capital withdrawals and four interest withdrawals will be allowed per calendar year
  • No earlier access
  • Account must be opened online before becoming post and phone-operated
  • Interest is paid quarterly (must be paid away)

Comfortably taking the top spot is this account from Secure Trust Bank, which pays a market-leading quarterly rate of 1.20% AER (1.19% gross) on a minimum investment of £1,000. This account requires savers to give 120 days' notice in order to withdraw funds, though it should be noted that only a limited number of withdrawals will be allowed each year, so careful management is a must. Further additions are welcome at any time, provided they're of at least £1,000.


Paragon Bank
120 Day Notice Account (Issue 5)
1.15% AER
  • Minimum investment of £500
  • Further additions permitted
  • Withdrawals allowed subject to 120 days' notice being given
  • No earlier access
  • Internet-operated account
  • Interest paid on anniversary
  • Access via nominated account

In second place is this deal from Paragon Bank, a variable rate account paying 1.15% on a minimum investment of £500. Further additions are permitted at any time, and unlimited withdrawals are also allowed, provided 120 days' notice is given. The only other restriction on this online-only deal is that all transactions must be made via a nominated account.


United Trust Bank
100 Day Notice Deposit
1.05% AER
  • Minimum investment of £500
  • Further additions permitted
  • Withdrawals allowed upon 100 days' notice
  • 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-three position with this deal, a 100-day notice account that pays 1.05% 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.


Charter Savings Bank
95 Day Notice
Issue 14
1.05% 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

Next up is this account from Charter Savings Bank, an internet-operated deal that pays 1.05% 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.


Charter Savings Bank
60 Day Notice
Issue 4
1.01% AER
  • Minimum investment of £1,000
  • Further additions permitted at any time
  • Withdrawals allowed subject to 60 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 done it again with a second account making the charts, this time its 60-day notice deal that secures a top-five place with a rate of 1.01%. It permits unlimited withdrawals, together with a slightly shorter notice period, with all other features mirroring those of its 95-day counterpart.


Al Rayan Bank
60 Day Notice
1.00% AER
  • Minimum investment of £250
  • Further additions allowed at any time
  • Withdrawals permitted subject to 60 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 quarterly (must be compounded)
  • Sharia'a compliant account

Just squeezing into the top six is this account from Al Rayan Bank. It pays an indicative profit rate of 1.00% on a minimum investment of £250, and can be managed via several channels for the height of convenience. This account requires savers to give 60 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.

Information & Rates correct as at: 09.02.2017

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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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