Compare notice accounts

Notice accounts

If you want to be able to dip into your savings but don’t necessarily need immediate access, you may be able to earn a higher rate of interest on a notice account than you can with an easy access account.

Need instant access to your savings on a regular basis? Easy Access accounts may suit your needs better.

Paragon Bank

120 Day Notice Account (Issue 7)

Interest rate (AER)

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Check introductory rate and period with provider

Min/max opening amount

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Notice period

120 days

Account type

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Access account
Great for
  • A choice between monthly or annual interest
  • Online application and access
  • FSCS protection up to £85,000 per depositor
But be aware that
  • 120 days' notice is required for withdrawals
Al Rayan Bank

120 Day Notice Cash ISA

Interest rate (AER)

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includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

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Notice period

120 days

Account type

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Access account
Great for
  • A Sharia compliant savings account
  • Invest as little as £250 and transfer existing ISA balances
  • UK based ethical bank with full UK regulation. The bank operates under Islamic finance principles
But be aware that
  • 120 day’s notice must be given to access your funds

Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

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Notice period

90 days

Account type

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Access account
Great for
  • UK based bank with FSCS protection
  • Simple online application form
  • Unlimited number of deposits (up to a maximum balance of £1,000,000)
But be aware that
  • 90 days notice required for withdrawals
Aldermore

30 Day Notice Cash ISA Issue 7

Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

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Notice period

30 days

Account type

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Access account
Great for
  • A choice between monthly or annual interest
  • FSCS Protected up to £85,000
  • Quick and easy online account opening
But be aware that
  • If withdrawals are made without giving 30 days' notice, a deduction of interest equivalent to the notice period will apply
Aldermore

30 Day Notice Issue 7

Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1000 | currency : '' : 0}} to {{productCurrency}}{{1000000 | currency : '' : 0}}

Notice period

30 days

Account type

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Access account
Great for
  • A choice between monthly or annual interest
  • FSCS Protected up to £85,000
  • Quick and easy online account opening
But be aware that
  • 30 days' notice required for withdrawals


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Notice Accounts Guide

What is a notice account?

It’s not easy these days to find a decent rate on your savings. The average easy access account pays interest of less than 1%, so it’s perhaps not surprising that savers are looking beyond standard accounts to try to get a better return on their money.

What is a notice account?

Most banks and building societies offer notice accounts – and as their name suggests, the accounts demand notice of withdrawals. In other words, you don’t have instant access to your cash.  And you usually have to specify the amount you want to withdraw.

The notice period varies but typically starts at about 30 days, rising to 120 days on some accounts.  There might also be a limit on the number of withdrawals you can make within any one year, so you need to read the small print carefully. 

The restrictions on notice accounts can help savers overcome the temptation to dip into their nest egg, but they can also prove costly.  If, for example, you need immediate access to your money, you will normally have to pay a penalty.

Internet junkies should also bear in mind that most notice accounts are branch or postal, though some banks and building societies allow you to manage your savings online.

Notice accounts sometimes pay higher rates of interest than easy access deals, and the longer the notice period, usually the higher the rate.  But it is always worth checking a range of accounts.  Savers can for example, earn higher rates of interest in some of the top easy access deals. You might also get a better return on a 60 day than a 90 day notice account.

There is no point in opening a notice account if you think you will need to withdraw your money in a hurry.  So, they are not a suitable home for emergency funds in case the washing machine breaks down or the roof needs repairs. The accounts are more appropriate for people who have no intention of touching the cash for at least the length of the notice period. They might, for example, be saving up for a wedding or a deposit on a house.

Keep an eye on the rate

You might not be able to touch the money in a notice account, but you shouldn’t forget about it completely. Most notice accounts pay variable rates of interest so the amount you earn can go down as well as up. It is therefore important to regularly monitor the rate to make sure you are getting a good deal.

Other options

If you don’t think a notice account is right for you, there are various other types of savings accounts on the market. You can, for example, fix your rate or open an easy access savings account. MoneySuperMarket can help you find the best deal on your savings because it allows you to compare rates on a wide range of accounts. The service is quick and easy to use, plus it’s free and independent, saving you money all round.