Why Shawbrook?
Here are just a few reasons why...
Why a Notice Savings Account could be for you
The flexible way to achieve your savings goals
Our Notice Savings Accounts
We’ve found 2 accounts for you
45 Day Notice Account
Let us know in advance when you would like to make a withdrawal, and we’ll pay you an attractive variable rate.
120 Day Notice Account
Let us know in advance when you would like to make a withdrawal, and we’ll pay you an attractive variable rate.
Terms explained
AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded each year. We quote the AER on all of our accounts so that you can compare our products with those of other banks. GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account. Terms & Conditions for Personal Accounts
Financial Services Compensation Scheme (FSCS)
Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Joint accounts are protected up to £170,000. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk
What are Notice Savings Accounts?
A Notice Savings Account is a type of bank account that has no fixed term but requires advance notice before withdrawing funds.
Notice Savings Accounts can provide more flexibility compared to Fixed Term Savings Accounts, making them suitable for individuals who do not need immediate access to their money but can plan in advance when they need to withdraw.
For example, they can be used for saving towards future goals such as purchasing a home or planning a wedding.
How do Notice Savings Accounts work?
At Shawbrook, Notice Savings Accounts are available with two term length options: 45 days or 120 days.
This means you are required to notify Shawbrook 45 or 120 days in advance before you can withdraw and access your funds.
Our Notice Saving Accounts allow for flexibility while offering competitive interest rates, suitable for those who can schedule their withdrawals ahead of time.
Pros and cons of Notice Savings Accounts
Notice Savings Accounts are ideal for planned saving. They require advance notice to access funds, which can help avoid impulse withdrawals and encourage more thoughtful financial decisions.
However, immediate access to funds is limited, which may not be suitable for all savers, especially those needing easy access to their money. Notice Savings Accounts have variable interest rates, which might not meet the needs of customers seeking a guaranteed interest amount.
In general, Notice Savings Accounts are suitable for those who can arrange their finances ahead of time.
Looking for more flexibility?
Explore our other products
Savings Accounts
At Shawbrook, it’s all about saving smarter, not harder.We have a range of savings accounts to suit your needs. Consistently great rates, award-winning products and FSCS protected.
Cash ISAs
Easy access or fixed rate on your ISA account – it’s up to you.Invest up to £20,000 tax-free each year and choose from easy access or fixed rate accounts.
Easy Access accounts
Discover Easy Access savings with a competitive rate.Withdraw your money whenever you need it – open as a sole or joint account.
Fixed rate savings accounts
Find a fixed rate savings account with a term that suits your needs.Benefit from a guaranteed interest rate with terms ranging from 9 months to 7 years.
Help
Below are some of the most common queries about our savings accounts.
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.
- Having a notice period can help you make more informed decisions and avoid the temptation of dipping into savings.
Can the interest rate change on a notice savings account?
Yes, the interest rate is variable, so it can change.
You can find out more about how interest rates can change in section 17 of our Terms and Conditions for Personal Savings Accounts, which you’ll find on our savings documentation page.
When can I make a deposit to my notice savings account?
You can add money to your account, up to your maximum deposit amount, whenever you like.
When can I withdraw money from my notice savings account?
You can withdraw money from your account at any point, but you’ll need to give us notice beforehand. This notice period will depend on your account.
You can submit a withdrawal request in your online account. We're in the process of upgrading the online experience for all of our customers. We'll contact you before this happens.
If your online account has not been upgraded yet:
- log in and select Requests
- select Withdraw money and follow the steps
If your online account has been upgraded:
- log in and select Messages and help
- select your notice account and send a message specifying the amount you want to withdraw
Once your notice period has ended, we’ll send your money to you.
Need more help?
We have a range of information to help you understand savings including how our products work, operating your account and getting in touch with our team.
Award-winning Savings
Make sense of savings
Depositing & withdrawing from your account
Find out how to make a deposit and withdrawal from your savings account.
Savings accounts for your business
Make your cash work as hard as you do. If your business is in the enviable position of having some spare cash to hand - even if it’s for a finite period of time - it makes sense to get it working for you. At Shawbrook we have a range of solutions designed to suit the needs of your business.