Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.
If you can afford not to have instant access to your money, a notice savings account can usually earn you more interest than an easy access account.
Notice accounts work by you having to give prior warning of your intention to make a withdrawal. Because the bank or building society has this prior warning, rather than a sudden withdrawal, it means that it can pay you a higher interest rate. Sometimes an account will allow you to bypass the notice period, but this will be at the expense of you losing an amount of interest equivalent to the notice period. So a 60 day notice account might let you access your money by giving 60 days’ notice, or losing 60 days’ interest.
Notice periods tend to start at 30 days and can range up to six months. Best buy rates don’t always correlate with the amount of notice you have to give – so a 60 day notice account could pay more than a 90 day version. That means it’s always best to compare interest rates as well as the length of the notice period to find the best deal.
Although not common, some notice savings accounts can include an introductory bonus in their rate – if this is the case it means you’ll need to review your rate when the bonus ends, to check your account is still competitive.
Remember that notice accounts are variable interest rates. So your interest rate could drop if rates – particularly the Bank of England Base Rate – decrease.
Savings home Search all notice savings accounts Compare easy access accounts (with bonus) Compare easy access accounts (no bonus) Compare 1 year fixed rate bonds
Monthly Savings PlanFind out what your regular savings plan could be worth.
Lump Sum InvestmentsUse our interest calculator to work out what interest you could earn on your lump sum. Find out what your lump sum investment plan could be worth.
With today marking the fifth year that base rate has been at its historic low of 0.5% – as confirmed... More
The importance of saving is constantly drummed into us, but what happens if you are unable to save a... More
Thursday is expected to mark the fifth year of the historically low BoE base rate of 0.5%. ... More
Gone are the days when a visit to granny and grandpa involved a treat of an ice cream, or at most a ... More
Attitudes towards saving seem to be changing with people becoming increasingly more aware of the nee... More
Islamic savings accounts offer a Sharia’a-compliant way of saving for Muslims living in the UK, as w... More
Find out where your bank or building society is licenced, and what deposit protection guarantees you... More
Savings accounts for the over 50s can offer a better rate, but not always. Make sure you always comp... More
Shawbrook Bank has amended rates across its fixed and variable rate accounts.... More
Vanquis Bank has reviewed rates on its fixed rate high yield bonds with the five-year option maintai... More
Skipton International Ltd has a new issue of its offshore five-year bond which retains its market-le... More
ICICI Bank UK has reviewed rates on its fixed rate HiSAVE bonds, with the two-year option retaining ... More
Secure Trust Bank has launched a new long-term fixed-rate bond paying 3.40% yearly.... More