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6 of the best notice savings accounts

6 of the best notice savings accounts

Category: Savings
19/01/2018

If you're looking to secure the best rate on your savings, you generally have one of two options: tie up your money for a set period of time, or agree to give your provider some notice before you make a withdrawal.

Option number two could well be the perfect compromise. Notice savings accounts let you access your money on the provision that you tell your provider in advance, thereby offering flexibility and decent rates in one handy package. Some providers will even let you withdraw the cash earlier should you need it, but this will usually be subject to an interest penalty, so savers will still need to be organised to benefit from this kind of account.

This means they're only suitable for those who are comfortable with giving some form of notice. They shouldn't be used for an emergency fund, for example, as you probably won't have the time to give notice if an emergency hits. But if you're confident that you won't need instant access to a portion of your savings, and don't want to lock your money away for too long, they could be ideal.

With that in mind, here are the current top-paying notice accounts that can offer a great rate alongside a certain degree of flexibility.

AER
Details

Secure Trust Bank

Secure Trust Bank

180 Day Notice Account

1.66% AER
  • Minimum investment of £1,000
  • Further additions allowed at any time (min £1,000)
  • Withdrawals permitted subject to 180 days' notice, but only three capital withdrawals and four interest withdrawals will be allowed per year
  • No earlier access
  • Account must be opened online before becoming phone and internet-operated
  • Access via nominated current account
  • Interest is paid quarterly

Comfortably taking the top spot is this account from Secure Trust Bank, which pays a market-leading, quarterly variable rate of 1.66% AER (1.65% gross) on a minimum investment of £1,000. It requires savers to give 180 days' notice to withdraw funds, and it should be noted that only a limited number of withdrawals will be allowed each year, so careful management is a must. Further additions are welcome at any time, provided they're of at least £1,000.


AER
Details

Secure Trust Bank

Secure Trust Bank

120 Day Notice Account

1.56% AER

  • Minimum investment of £1,000
  • Further additions allowed at any time (min £1,000)
  • Withdrawals permitted subject to 120 days' notice, but only three capital withdrawals and four interest withdrawals will be allowed per year
  • No earlier access
  • Account must be opened online before becoming phone and internet-operated
  • Access via nominated current account
  • Interest is paid quarterly

Secure Trust Bank has done it again with a second account making the charts - this time it's the 120-day notice deal that pays a variable 1.56% AER quarterly (1.55% gross). A minimum investment of £1,000 is again required, with only a set number of withdrawals permitted, but this time 120 days' notice must always be given.


AER
Details

Milestone Savings

Milestone Savings

95 Day Notice Account

1.52% AER

  • Minimum investment of £1,000
  • Further additions permitted
  • Withdrawals allowed subject to 95 days' notice being given
  • No earlier access
  • Internet-operated account
  • Access via nominated account
  • Interest paid yearly and must be paid away
  • Sharia'a compliant account

In third place is this deal from Milestone Savings, a variable account paying an expected profit rate of 1.52% on a minimum investment of £1,000. Further additions are permitted at any time, while unlimited withdrawals are allowed provided 95 days' notice is given. The only other restriction on this online-only deal is that all transactions must be made via a nominated account.


AER
Details

Al Rayan Bank

Al Rayan Bank

90 Day Notice

1.51% AER

  • Minimum investment of £250
  • Further additions permitted
  • Withdrawals allowed subject to 90 days' notice being given
  • No earlier access
  • Account can be opened and operated online, by phone, by post, in branch and via mobile app
  • Interest paid monthly
  • Sharia'a compliant account

Next up is this deal from Al Rayan Bank, which offers the shortest notice period in this list with a competitive expected profit rate of 1.51% AER (1.50% gross). It's a simple, straightforward account that allows further additions at any time as well as unlimited withdrawals, though once again, earlier access won't be permitted, with the notice period always having to be served.


AER
Details

Manchester BS

Manchester BS

120 Day Notice Saver

Go to Site

1.50% AER

  • Minimum investment of £1,000
  • Further additions allowed at any time
  • Withdrawals permitted subject to 120 days' notice
  • No earlier access
  • Account can be opened and operated by post and in branch
  • Interest paid yearly

Sitting in fifth place is Manchester BS, with a deal that pays a competitive variable rate of 1.50% on a minimum deposit of £1,000. It requires 120 days' notice for all withdrawals, but allows unlimited additions.


AER
Details

Bank and Clients

Bank and Clients

6 Month Notice Account

1.50% AER

  • Minimum investment of £1,000
  • Further additions permitted at any time via cheque or bank transfer
  • Withdrawals allowed subject to 182 days' notice being given
  • No earlier access
  • Postal-operated
  • Access via nominated current account
  • Interest paid yearly and must be compounded

This deal from Bank and Clients completes the top six, offering a rate of 1.50% from a minimum investment of £1,000. Further additions are welcome, as are unlimited withdrawals provided 182 days' notice is given. Note that this account can only be opened and operated by post.

Information & Rates correct as at: 18.01.2018

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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