Why choose a notice savings account?
Whether a notice savings account is the best option will depend on your circumstances and savings goals. But some of the benefits include:
- Unlike a fixed term bond (such as a 1 year fixed rate bond, for example), you don’t have to make new investment decisions at the end of the term. The money will remain in your account and keep gaining interest until you decide to withdraw, so you can leave it in the notice savings account for as long as you want.
- After you’ve made the minimum deposit, there is no minimum deposit amount so you can keep topping it up as and when you like.
- You’ll typically get a higher rate of interest than you would with an easy access savings account.
- Having a notice period can help you make more informed decisions and avoid the temptation of dipping into savings.