Charter Savings Bank has taken the savings market by storm with a 95-day and 120-day notice account. The 120-day account has received a welcome rate boost of 0.10%, while its shorter-term counterpart is new on the scene. As a result, both have taken top positions in their respective sectors.
120 Day Notice Issue 2 now pays a market-leading yearly rate of 1.95% (1.93%), securing the top spot in its sector. Meanwhile, its 95-day equivalent (issue 2) pays a market-leading rate of 1.80% yearly (1.79% monthly).
Both accounts must be opened and operated online with a minimum investment of £1,000. Savers should note that all access is via a nominated account.
These notice accounts both allow further additions and unlimited, penalty-free withdrawals provided the respective notice periods are given. However, early access is not possible, so savers will need to plan their withdrawals carefully to abide by the 95 or 120-day notice period.
These accounts have taken the top spot on the podium for a reason – not only do they boast highly competitive rates, but they also offer savers equally as impressive monthly options, which will appeal to those who wish to secure a regular income. The ability to make unlimited withdrawals is also a plus, as is the option to contribute further funds. However, due to the lack of early access, savers will need to plan their withdrawals carefully.
Moneyfacts rating: Excellent
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