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

  1. 1.

    How long you can wait to withdraw your money

  2. 2.

    How much you want to save

  3. 3.

    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 that 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.

How do you give notice?

You must give notice for each withdrawal you plan to make 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


Do I need to give notice to withdraw?


Not always, some accounts let you withdraw anytime but will penalise you the same amount of interest you would have earned over the notice period.


Can I take out as much as I want after giving notice?


No, you can only take out the amount you gave notice for. Any amount you withdraw over could result in a penalty charge for the whole withdrawal.


Can someone else give notice on my behalf?


No, but some offer forms you can complete and sign to authorise notice to be given on your account. This form can be handed in by anyone.


Do both of us need to give notice on our joint account?


If you have a sole signature required account then one of you can give notice, if it is a joint signature required account you both need to sign.


What if I change my mind after giving notice?


Contact your savings provider and let them know as soon as you have changed your mind.

About our notice savings accounts comparison


Who do we include in this comparison?


We include every personal savings account that requires notice on withdrawals. They are regulated by the Financial Conduct Authority (FCA).

Here is more information about how our website works.


How do we make money from our comparison?


We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.

You do not pay any extra and the deal you get is not affected.