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.
Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme. The maximum level of protection will be reducing from £85,000 to £75,000 from 1 January 2016.
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.
OK, we know it’s a bit soon to be talking about Christmas, but if you want to make sure you can comf... More
Easy-access savings accounts are as simple as they sound – they allow you to access your money whene... More
Squeezed household incomes mean that more and more of us are relying on family members for financial... More
Savers, we’ve got some great news – signs of life are cropping up all over the place in the savings ... More
News for savers over the last few years has been dreary to say the least, but it finally seems as th... 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
Kent Reliance has increased the rate of its 60-day notice savings account by 0.25%, giving it a mark... More
West Brom Building Society has unleashed a new easy access account onto the market, earning an ‘exce... More
Close Brothers Savings has secured another chart place with its new five-year fixed rate deal, which... More
Saga has increased the tiered rates paid on its three-year fixed rate deal, enabling it to establish... More
ICICI Bank UK has unveiled a new competitive easy access savings account, securing a prized place on... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.