Secure Trust Bank has enabled its 120-day notice account to claim the top spot in its sector after increasing its rate by 0.05%.
120 Day Notice (Issue 13) now pays a market-leading rate of 1.90% quarterly (1.91% AER), enabling it to secure its place at the very top of the charts.
This account must be opened online with a minimum deposit of £1,000 and then managed by post or phone. Savers should note that access must be via a nominated account.
Additional deposits are welcome at any time, but while withdrawals are allowed, savers must abide by certain restrictions: 120 days' notice must always be given before a withdrawal is made and only three capital and four interest withdrawals are permitted per calendar year.
For non-personal customers, a business version of this account paying the same rate is also available.
The rate increase has enabled this account to be crowned as the leader of its sector, something that is sure to catch the eye of savers. However, it will best suit those who are happy to plan their withdrawals in advance, as only a limited number of withdrawals can be made per year and there is no early access.
Moneyfacts rating: Excellent
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