Savers must notify their provider in advance when they wish to access their cash. Early access is usually allowed with these accounts, although at a penalty such as a loss of interest.
For savers who do not require instant access to their funds, here are the best products currently available.
Turkish Bank (UK) – 60 Day Notice
This deal pays a variable rate of 3.02 per cent. Investments start at £1,000, although there is no maximum investment amount. As the name suggests, savers must give 60 days notice to access funds. Early access is allowed, although savers will be penalised with 60 days loss of interest. The account can be operated in branch or by post, by savers aged 18 or over. Gross rate is guaranteed to be at least 0.50 per cent above Bank Base Rate until 31st December 2010.
United National Bank – 3 Month Gold Deposit
United National 3 Month Gold Deposit pays a rate of 3.00 per cent. Interest is paid half yearly and savers can invest from £1 up to £1 million. Although early access is allowed at the bank's discretion, savers will incur a 2.00 per cent penalty. This account can be operated in branch or by post by customers aged 18 or over.
Buckinghamshire Building Society – Chiltern Gold Income Gold Generator
This account pays a variable rate of 2.80 per cent. Interest is paid monthly. Savers can invest from £10,000 to £50,000. The account is only for new money and transfers from other Buckinghamshire Building Society accounts are not allowed. 180 days notice is required to access funds. Early access is allowed, although savers will incur 180 days loss of interest. The account can be operated in branch or by post.
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 Any products featured may be withdrawn by their provider or changed at any time.
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