Notice Account
If you think that there is a possibility of needing the funds then this may not be the most suitable option for you.
For anyone who has a lump sum of money and can afford to invest it without the need to access it for a set period of time, this account type should definitely be considered. The initial deposit is around £500 for most accounts although there are a few accounts which allow a minimum deposit of £1.
They often pay more interest than a standard savings account and the funds are accessible but a notice of the agreed period must be given first, usually 30 days, 60 days,or 120 days. These savings accounts offer a good rate of interest without tying funds up for too long.
The interest payable on these accounts vary but in generally is around 2.5-2.9% (AER). This is also subject to tax.
Notice accounts are widely available on the high street, online or via telephone banking.
Download the Saving Accounts PDF Guide here - see our other free PDF guides here
Guide Contents
Why Save?
Tips to help you start saving
The different types of savings accounts
Instant Access
E-Saver
Regular Savings Account
Notice Accounts
Affinity Savings Accounts
Ethical Savings Accounts and Charity Savings Accounts
Cash ISA's
National Savings & Investments
Children's Savings Accounts
Term or Bond Savings Accounts
Guaranteed Equity Savings Account
Frequently Asked Questions
Further help with Savings Accounts
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