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Product focus: Advance notice ISAs

Product focus: Advance notice ISAs

Category: Savings

Updated: 17/05/2010
First Published: 17/05/2010

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 It is now over 6 months old so the content may be out of date.

Notice accounts can be a good option for savers who do not need immediate access to funds.

There is a vast range of products on the savings market with differing notice periods, so it is important to take the time and check out which account would suit you best before applying.

Some providers allow a degree of flexibility and allow funds to be accessed early if need be, although this is often subject to penalties such as a loss of interest.

Here is a selection of the current best cash ISAs which require advance notice.

Manchester Building Society – Premier ISA Issue 6

This account pays an annual rate of 3.01% including a bonus of 0.70% for fifteen months. Savers can invest a minimum of £1,000 and transfers in are accepted. 90 days notice must be given to access funds and early access is not allowed. The account is available to savers aged 18 and over and can be operated in branch and by post.

Nationwide Building Society – Champion ISA

The Champion ISA pays an annual rate of 2.80% including a bonus of 1.35% until 30 June 2011. Savers can invest a minimum of £1,000. If the balance drops below £1,000 the rate will revert to 0.10% and no bonus will be applied. Transfers in are allowed. While 60 days notice is required to access funds, one notice and penalty free withdrawal is allowed per tax year. If further early access withdrawals are made, however, a 60 days loss of interest penalty will apply. The account can be operated by savers aged 16 and over in branch and online.

Newcastle Building Society – Reward Saver ISA

The Reward Saver ISA pays 2.75% on its anniversary, including a 1.00% bonus for twelve months. A minimum deposit of £500 is required and transfers in are accepted. Savers can split their cash ISA savings across multiple ISAs within Newcastle Building Society's range if they wish.120 days notice is required to access funds, although early access is permitted subject to 120 days loss of interest. The account is available to savers aged 18 and over and can be operated in branch or by post.

Find the best savings rates for you - Compare cash ISAs

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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