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ARCHIVED ARTICLE This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Derin Clark

Derin Clark

Online Reporter
Published: 03/06/2019
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The average notice account rate has risen to 1.15%, the highest seen since October 2012 when it stood at 1.19% AER, data reveals.

This is good news for savers as it means that they are now able to secure a decent return on their savings without having to lock into a longer-term fixed rate bond. Along with the increase in average notice account rates, the current top five notice account rates in the market have also improved, now paying 1.88% on average, up from 1.62% a year ago and 1.79% five years ago (based on a £10,000 deposit).

Some notice accounts allow a notice period of fewer than 30 days, and for savers, this small restriction on gaining access to their money can be the difference between an inflation-beating savings rate on a notice period account and a below-inflation rate on an easy access account. In fact, 81% of notice period accounts pay more than 0.75%, compared to just 37% of easy access accounts.


  Oct-12 Jun-14 Jun-17 June-18 June-19
Average notice account rate 1.19% 0.71% 0.57% 0.84% 1.15%

Top notice account rates

Jun-14 Jun-18 Jun-19
Shawbrook Bank - 120 Day Notice - 1.85% Charter Savings Bank - 95 Day Notice - 1.67% Secure Trust Bank - 90 Day Notice - 1.91%
Secure Trust Bank - 120 Day Notice - 1.85% Paragon Bank - 120 Day Notice - 1.66% Hampshire Trust Bank - 120 Day Notice - 1.90%
Islamic Bank of Britain - 120 Day Notice - 1.80%*^ Secure Trust Bank - 180 Day Notice - 1.65% Gatehouse Bank - 120 Day Notice - 1.87%*
Shawbrook Bank - 95 Day Notice - 1.75% PCF Bank - 100 Day Notice - 1.55% Gatehouse Bank - 95 Day Notice - 1.85%*
Raphaels Bank - 6 Month Notice - 1.75% Secure Trust Bank - 120 Day Notice - 1.55% PCF Bank - 180 Day Notice - 1.85%

Top deals at £10,000 gross. *An Islamic bank, pays an expected profit rate. ^Re-branded as Al Rayan Bank. 

Rachel Springall, finance expert at, said: “Despite easy access accounts remaining a firm favourite among savers, it would be unwise for consumers to overlook the competition that has been occurring within the notice account market. Indeed, notice accounts typically offer higher returns and these deals may be more attractive to those who want to avoid dipping into their savings on a frequent basis – thanks to their requirement to give notice of withdrawal.

“Savers will also find more deals that beat the current bank base rate by choosing a notice account, as today 81% of the notice account market will offer an interest rate above 0.75%, and compared to the easy access account market where only 37% do the same, that’s a significant difference.

“Indeed, in the past 12 months alone, the average notice account rate has increased by 0.31% – from 0.84% to 1.15% – and many of these top rates continue to be on offered by challenger banks or Islamic banks. These brands have fuelled the market with a spate of activity to gain the attention of savers who may be looking for a new home for their cash and the general structure of a notice account is easier to manage the flow of funds compared to an easy access account where they could lose any deposits overnight.

“Today the top rate requires savers to give 90 days’ notice, which is a shorter timeframe than a year ago and pays 0.24% more comparing the top rate. Indeed, last year the top rate on offer paid 1.67% on a 95-day notice account from Charter Savings Bank, which is lower than the top deal today, a 90-day notice account from Secure Trust Bank paying 1.91%. In 2014, the top trio of deals required savers to give 120 days’ notice to access their cash, but the market-leading rate today requires 30 days less notice.

“Clearly, there is now much more choice of top rates within the notice account market and, as it continues to prosper, savers would do well to consider this type of savings vehicle and not overlook the less familiar brands who offer the most lucrative returns.”


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