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.
The latest official inflation figures show that the Consumer Prices Index (CPI) fell to 1.6% in July... More
Getting a decent return from your savings takes more than putting money in the first account you com... More
With savings rates still tending to frustrate rather than elate, savers have increasingly been looki... More
If you’re looking to secure the best rate on your savings, you generally have one of two options – t... More
There’s nothing worse than squirreling away your hard-earned cash into a savings account, only to fi... 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
HSBC has increased the rate on its popular children’s account by up to 1.96%, seeing it storm up the... More
AA has increased the rate on its no notice savings account by 0.20%, seeing it storm up the Moneyfac... More
Nottingham Building Society has increased the rate on its easy access account by 0.09%, securing it ... More
West Brom Building Society has increased its five-year bond rate by 0.25%, achieving a top ten rate ... More
Market Harborough Building Society has revamped its savings range, launching two new fixed rate bond... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.