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Derin Clark

Derin Clark

Online Reporter
Published: 04/05/2021

Savers wanting easy access to their funds will usually turn to an easy access savings account or ISA, but those who are able are being urged to consider notices accounts to get better rates.
Notice accounts are similar to easy access accounts and will often allow savers to add further deposits to their accounts whenever they want. The main difference between notice and easy access accounts is that with a notice account, savers will have to provide a notice period to withdraw money, which is usually from 30 to 90 days depending on the account, whereas easy access accounts will usually allow instant withdrawals.

In return for the withdrawal notice period, notice accounts will often offer better rates than easy access accounts. Rachel Springall, finance expert at, explained: “Easy access accounts continue to be popular, but savers could get a better return if they are prepared to leave their pot for a few months. The top rate is 0.65% from Moneycorp Bank* on its 90 Day Notice Account, which is 0.20% more than the easy access account from Kent Reliance at 0.45%, the top rate that allows multiple withdrawals and has no restrictions. These are both great deals to consider but there is no guarantee they will last for long, especially with recent weeks’ cuts on other deals indicating volatility.

“One way for providers to cope with demand is to cut rates or remove the product from sale entirely. As it stands, many of the top deals in the easy access arena are restrictive in some way or impose withdrawal restrictions. Therefore, if savers are seriously considering these deals, then notice accounts should not be overlooked, so long as careful planning to access funds is put in place.”

Providers cut top rates

Whether savers choose an easy access savings account or a notice account, they are urged to act quickly to secure the top rates, as over the last month many providers have cut top rates significantly. For example, last month ICICI Bank UK cut the rate on its 95 Day Notice Savings Account by 0.20%, from 0.55% AER to 0.35% AER. Meanwhile, in the easy access savings chart, Virgin Money cut its M Plus Saver rate by 0.15%, down from 0.50% to 0.35%.

As such, savers should regularly check our easy access savings account, ISA and notice account charts to see what top rates are available. “As always, it’s vital savers act quickly to secure a top rate deal and review any existing accounts too,” Springall added.


*note: Moneycorp Bank is not protected under the FSCS depositor protection scheme, but is instead protected under the Gibraltar protection scheme. Our deposit protection schemes guide provides more information about these schemes and how saving deposits are protected. 


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