6 of the best notice savings accounts

Category: Savings
15/03/2018

Earlier in the week we reported that notice accounts have seen a comeback, with all top rates now higher than a year ago. This is great news for savers who want a higher rate than can be found on easy access accounts, but without losing access to their money for a whole year.

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 a rainy-day 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. Note that as with easy access accounts, the rates on these accounts are variable, which means they could change.

Comfortably nestled into 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 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.

Secure Trust Bank has done it again with a second account in 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.

In third place is this deal from Paragon Bank, which pays a variable rate of 1.55% on a minimum investment of £500. Further additions are permitted at any time, while unlimited withdrawals are allowed through a nominated current account - as long as 120 days' notice is given.

Next up is this online-exclusive deal from Milestone Savings, which offers an expected profit rate of 1.53%. It's a simple, straightforward account that allows further additions at any time, as well as unlimited withdrawals, although once again, earlier access won't be permitted, with the notice period always having to be served.

Sitting in fifth place is Al Rayan Bank, with a deal that pays an expected profit rate of 1.51% AER (1.50% gross) on a minimum deposit of £250. With only 90 days' notice required, it may be ideal for those savers who want to minimise their notice, especially as it pays interest on a monthly basis. It allows unlimited additions.

	AER	Details
Manchester BS 120 Day Notice Saver	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

This deal from Manchester BS completes the top six, offering a variable rate of 1.50% from a minimum investment of £1,000. Further additions are welcome, as are unlimited withdrawals, provided 120 days' notice is given.

Information & Rates correct as at: 15.03.2018