Product focus: Notice accounts

Category: Savings
Date: 1/23/2012

A growing number of savings accounts include introductory bonuses, which can help to boost the initial rate. It is important to remember, however, that bonuses only run for a limited period, often twelve months, after which the rate will drop substantially. Therefore it is worth making a note of when the bonus expires to avoid reverting to a lower rate.

Here is a selection of some of the current best notice accounts which offer introductory bonuses.

Post Office - Reward Saver Issue 2

• This account from Post Office pays a rate of 3.00% including a 1.25% bonus for twelve months.
• A monthly interest option is available at 2.96% with a bonus of 1.22% for twelve months.
• Savers can invest between £500 and £2 million.
• Advance notice of 30 days' is required to access funds and savers who access money early will be subject to a 30 days' loss of interest penalty.
• The account is available to savers aged 18 and over and can be operated in branch, by post or telephone.

krbs - Internet 60 Day Notice

• The rate for this account is dependent on the investment amounts.
• Savers who place deposits between £1,000 and £24,999 will receive a rate of 2.75%.
• Investments between £25,000 and £49,999 will receive 2.95%, whilst those with deposits between £50,000 and £1 million will receive a return of 3.10%.
• All rates include a bonus of 1.00% for twelve months.
• Investments range between £1,000 and £1 million.
• Advance notice of 60 days' must be given to access funds and a penalty of 60 days' loss of interest will be incurred for early access.
• The account is available to investors aged 16 and over and can be operated online only.

Principality Building Society - 60 Day Direct

• This account pays 2.60% on its anniversary including a bonus of 1.00% for twelve months.
• A monthly interest option is available at 2.57% with the same bonus and term.
• Savers can invest between £1,000 and £500,000 and must give 60 days' notice to access funds.
• Accessing funds early will result in 60 days' loss of interest.
• The account can be operated by savers aged 16 and over by post only.

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 Any products featured may be withdrawn by their provider or changed at anytime.