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
Stay in the know with all the latest information, of-the-moment consumer trends, best-in-class products & providers and helpful tools from Moneyfacts.
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.
If you’re looking to secure the best rate on your savings, you generally have one of two options...... More
We don’t want to get too excited, but latest research from Moneyfacts has revealed slight signs of l... More
How confident are you in reaching your savings goals? According to research from Lloyds Bank, the ma... More
The Pensioner Bond is no more. It was officially withdrawn from sale last Friday, after more than a ... More
Latest figures show that inflation turned negative in April to stand at -0.1%, meaning your money wi... 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
With some forecasters predicting interest rate cuts by November 2012, we look at the pros and cons o... More
Hampshire Trust Bank has increased the rates of its two and three-year fixed bonds by up to 0.30%, c... More
BM Savings has boosted the rate of its easy access account by a significant 0.50%, pushing it into a... More
Secure Trust Bank has unleashed two competitive fixed bonds onto the market, both of which have stor... More
Close Brothers Savings has made a slight reduction to the rates of its three and five-year bonds, bu... More
United Bank UK has slightly reduced the rate of its one-year bond; however, it has maintained its co... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.