Shawbrook Bank has increased the rates of its 95 and 120-day notice accounts by up to 0.15%, securing both a prized place in the Moneyfacts charts.
95 Day Notice Personal Savings Issue 17 now pays 1.65% yearly, the joint leading rate for its term, which allows it to take its position in the charts. Meanwhile, its 120-day counterpart (Issue 28) pays 1.75% yearly, enabling it to move further up into the top 10 of its sector.
Both of these accounts can be opened by post and online and then managed in the same way, as well as by phone. A minimum investment of £1,000 is needed. Savers should note that access is via a nominated account.
Additional deposits are permitted while the issues remain open, while unlimited, penalty-free withdrawals can be made. However, early access is not allowed, so savers must be prepared to plan their withdrawals according to the respective 95 and 120-day notice periods.
Both of these accounts have improved their competitiveness thanks to this rate increase, which has solidified their places in the charts. The option to add extra funds gives a welcome degree of flexibility to these accounts, but the lack of early access does mean that savers will have to be organised when planning a withdrawal in order to abide by the notice periods.
Moneyfacts rating: Excellent
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