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Product Focus: No Notice Accounts

Product Focus: No Notice Accounts

Category: Savings

Updated: 22/01/2010
First Published: 01/06/2009

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 It is now over 6 months old so the content may be out of date.

Savers looking for instant access to their money have been given a boost of late, with the average rate increasing from 0.64% a month ago to 0.69% today. In previous weeks it had just been fixed rate investments where rates had increased, but it seems other areas of the market are now starting to see the benefits as providers fight to attract savers' money.

Scottish Widows Bank – Direct Transfer

New customers to Scottish Widows Bank who apply through an IFA can get a top rate of 3.01pc, including a 1.00pc bonus for six months. Savers can invest between £1,000 and £1m into the account, which can be operated online or by post or telephone. No notice is required to access funds, but all withdrawals must be made through a nominated account.

Scarborough Investments Direct – Direct Access

Scarborough Investments Direct is paying 2.76pc on its Direct Access account. The account guarantees to pay no less than 1.26pc above Bank of England Base Rate until 31 May 2010. Savers can invest between £1,000 and £500,000 into the account, which is operated by telephone. No notice is required to make a withdrawal, but all money must be withdrawn by transfer only.

ING Direct (UK) – Savings Account

New customers to ING Direct (UK) can get a rate of 2.72pc, which includes a 2.22pc bonus for 12 months. The account can be operated online or by telephone and savers can invest up to £1m. No notice is required to access funds, but all money withdrawn must be paid to a nominated account.

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 Any products featured may be withdrawn by their provider or changed at any time.

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