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Product Focus: 60 day notice accounts

Product Focus: 60 day notice accounts

Category: Savings
Date: 01/10/2009

Savings accounts that require less than 90 days notice to access funds may suit many customers. This is due to the fact that, although cash is safely locked away for a set period, it can still be accessed after a reasonable time.

As with any notice account, savers need to be aware of the required notice period, if not they could be penalised. The following accounts all require 60 days notice to withdraw funds.

Bradford & Bingley – Notice Saver Online

This online deal from Bradford & Bingley pays a rate of 3.30 per cent including a 2.80 per cent variable bonus for 12 months. There is also a monthly interest option at a lower rate of 3.25 per cent with a bonus of 2.75 per cent variable for 12 months. Savers can invest between £1,000 and £2 million. 60 days advance notice is needed to access cash and although early access is allowed, it is subject to 60 days loss of interest. The account can be operated online only by savers aged 16 and over.

Turkish Bank (UK) – 60 Day Notice

This account pays a rate of 3.02 per cent. The gross rate is guaranteed to be at least 0.50 per cent above bank base rate until 31st December 2010. Minimum investment amount is £1,000. Early withdrawals are allowed, although this is subject to 60 days loss of interest. Minimum withdrawal amount is £500. Savers can operate the account either in branch or by post and must be aged 18 or over.

Nationwide Building Society – Champion Saver

Nationwide's Champion Saver pays a rate of 2.80 per cent including a bonus of 1.10 per cent until 31st January 2011. Savers can invest between £1,000 and £2 million. 60 days notice is required to access funds. Early access is allowed, although this is subject to 60 days loss of interest. The account can be operated in branch only with a passbook, by savers aged 18 or over.

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 Any products featured may be withdrawn by their provider or changed at any time.

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