Secure Trust Bank has unveiled a brand new notice account boasting an impressive joint market-leading rate, securing itself a comfortable position in the Moneyfacts charts.
120 Day Notice Account (Issue 11) has a highly competitive rate of 1.80% quarterly, which is equal to the top rate in the market.
This account can be opened online with a minimum investment of £1,000 and then managed by post or by phone.
Further additions to this account are welcomed, but early access to funds is not permitted. Withdrawals are always subject to the 120-day notice period, so investors must think carefully about whether this will suit their needs.
There is also a limit on the number of withdrawals that can be made; up to three withdrawals of the amount invested can be made per year, while four withdrawals of the interest accrued can be taken out each annum.
For businesses, a non-personal version of this account paying the same rate is also available.
This account has a very impressive rate, which is sure to get investors excited. The ability to make further additions is also a bonus and adds some welcome flexibility. However, there are restrictions on the number of withdrawals that can be made and there is no option to access funds early. Investors must therefore be able to plan their withdrawals in advance.
Four Moneyfacts Stars have been awarded.
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 Any products featured may be withdrawn by their provider or changed at any time.
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