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Product focus: No notice bonus accounts

Product focus: No notice bonus accounts

Category: Savings

Updated: 17/12/2012
First Published: 04/04/2012

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 It is now over 6 months old so the content may be out of date.

The average no notice savings rate is currently at 1.00%, the highest level since February 2009.

Providers often include introductory bonuses to boost a product's initial rate, some of which account for a large portion of the overall rate, which may be a reason why averages have risen.

Here is a selection of some of the current top no notice accounts with introductory bonuses.

Nationwide BS - MySave Online Plus

  • This account pays a monthly rate of 2.81% with a 1.31% bonus for twelve months to savers with deposits between £1,000 and £24,999.
  • Those with deposits between £25,000 and £5 million will receive a rate of 3.12% including a 1.62% bonus for twelve months.
  • No advance notice is required to access funds, although only one notice and penalty free withdrawal is permitted in one rolling year.
  • If this condition is broken, a lower rate will be paid for the month in which the money was withdrawn.
  • The account is available to savers aged 16 and over and can be operated online only.

Coventry BS - Online Saver (2)

  • The Online Saver account pays a rate of 3.15% on its anniversary including a bonus of 1.15% for twelve months.
  • A monthly interest option is available at 3.11% with a 1.13% bonus for twelve months.
  • Savers can invest between £1 and £250,000.
  • Up to four notice and penalty free withdrawals are allowed per year, after which a 50 days' loss of interest will apply.
  • The account can be operated online only by investors aged 16 and over.

Derbyshire BS - NetSaver Issue 3

  • This account pays an annual rate of 3.06% with a bonus of 2.06% until 30.6.13.
  • Savers can invest between £1,000 and £5 million.
  • No advance notice is needed to access funds, although all withdrawals must be made via a nominated account.
  • The account is available to savers aged 16 and over and can be operated online only.

Find the best savings accounts for you - compare savings accounts with bonuses

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 Any products featured may be withdrawn by their provider or changed at any time.