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Product Focus: Notice accounts

Product Focus: Notice accounts

Category: Savings

Updated: 22/01/2010
First Published: 28/09/2009

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 It is now over 6 months old so the content may be out of date.

There are a host of accounts available for savers who do not need to access their cash at short notice, but still prefer the convenience of operating their account online.

Notice account periods vary from 7 to 120 days, although savers must plan ahead if they wish to withdraw funds, as failure to do so could result in a penalty such as loss of interest.

Bradford & Bingley – Notice Saver Online

Available online only, this account pays a variable rate of 3.30 per cent including a bonus of 2.80 per cent for 12 months. A monthly interest options is available at 3.25 per cent with a bonus of 2.75 per cent for 12 months. Savers can invest between £1,000 and £2m. 60 days notice is required to access funds and while early access is allowed, it is subject to 60 days loss of interest. Withdrawals must be made by BACS to a nominated account. The account can be operated online only by savers aged 16 or over.

First Save – 90 Day Notice

First Save's 90 day notice account pays a rate of 3.25 per cent. The AER is guaranteed to be at least equal to or at least 0.25 per cent above bank base rate until 1st January 2010. A monthly interest option is available at a lower rate of 3.20 per cent, and the AER is also guaranteed to be at least equal to or at least 0.25 per cent above bank base rate until 1st January 2010. Investments range from £5,000 to £2m. Savers must give 90 days notice to withdraw funds, which must be made by BACS. The account can be operated online only by savers aged 18 or over.

Newcastle Building Society – Reward Saver

This deal pays a rate of 3.00 per cent with a bonus of 1.00 per cent for 12 months. A monthly interest option is available at 2.941 per cent also with a bonus of 1.00 per cent for 12 months. Savers must give 120 days notice to access cash. Early access is available, although this is subject to 120 days loss of interest. Investments range from £500 to £1m. The account can be operated in branch, by post and online 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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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