Compare our best rates for notice savings accounts

These savings accounts could offer a higher interest rate as you need to give a set amount of notice to withdraw any money.

  • Compare our top providers
  • Pick the best type of account for you
  • Savings accounts are protected by the Financial Services Compensation Scheme (FSCS)¹

Compare notice savings accounts from leading providers

Looking through a range of options gives you more chance of securing a great deal. You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

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How to compare notice savings account

1

Make savings goals

Decide on your deposit amount. How much have you set aside to open a savings account? The opening sum requirement will vary depending on the provider.

2

Compare your options

Have a look through the options to find the best monthly interest savings account, importantly terms can vary between providers, so check any conditions attached to the the account.

3

Apply and start saving

You may be able to get a higher interest savings account by applying online and some providers only ever operate digitally. Once you've decided on the provider you want, simply apply.

Notice savings accounts deals

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How to get the best notice savings account

There are three things to think about before you choose the best notice savings account:

  • How long you can wait to withdraw your money

  • How much you want to save

  • Finding the highest interest rate

Some notice accounts offer a higher interest rate if you save over a certain amount.

For example, you could get a rate of 1% on a 7 day notice account if you save over £100,000, but only 0.5% if your balance goes under this amount.

If you want easier access to your money then compare instant access savings accounts, as many offer similar rates to those offered on notice accounts.

How much notice do you need to give?

The most common notice periods you can compare are:

  • 7 days

  • 30 days

  • 60 days

  • 90 days

  • 120 days

You should compare as many notice accounts as possible, and find one that will let you withdraw your money in the time you are prepared to wait for.

What happens if you withdraw without giving notice?

Some accounts will penalise you by taking the amount of interest you would have earned over the notice period off your savings balance.

For example, a 60 day notice account will deduct 60 days' worth of interest from your account if you withdraw without giving notice.

Other notice accounts will not let you withdraw unless you give and wait the notice period.

Florence Codjoequotation mark
If you know you can be quite impulsive with your spending, and you really want to avoid easy access to your savings, a notice account might be useful for you.
Florence Codjoe, Personal Finance Editor

How do you give notice?

You must give notice for each withdrawal you plan to make, you do this by telling your savings provider online, over the phone or in writing.

You have to tell them:

  • Which account you want to withdraw from

  • When you want to make the withdrawal: any date after giving the notice period

  • How much you want to withdraw: you can withdraw up to this amount without penalty

You can only make one withdrawal after you have given notice, even if you withdraw less than you had specified.

If you try to withdraw more than you had given notice for, you will be penalised for the entire amount.

For example, if you gave notice to withdraw £100, but try to withdraw £150 you will be charged an interest penalty on the whole £150.

Notice savings account FAQs

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Why compare savings accounts deals with money.co.uk?

Comparing savings accounts could save you money. Our multiple award-winning comparison service makes sure you get the lowest fees and rates possible based on your individual circumstances. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

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Last updated: 05 May, 2022