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UK Savings Notice Account Interest Rates Climb to Three Year High

Personal_Finance / Savings Accounts Apr 30, 2012 - 03:28 AM GMT

By: MoneyFacts


The average rate of a notice savings account currently stands at 1.57%, its highest level since early 2009.


Average rate

Average bonus




1 Year Ago



2 Years Ago



3 Years Ago



Source: 30.4.12


Top 5 notice accounts



Rate (gross)

Min Investment

Notice required

Shawbrook Bank

120 Day Notice Personal Savings Account Issue 2



120 days

Shawbrook Bank

95 Day Notice Personal Savings Account Issue 2



95 days


120 Day Notice



120 days

Investec Bank plc

Investec High 5 Issue 2



6 months

Close Brothers Savings

Select Gold 180 Day Notice



180 days

Source: 30.4.12


Louise Holmes, spokesperson for, commented: “Rates for notice savings accounts fell sharply during the peak of the financial crisis, but have risen considerably over the past couple of years.

“One explanation for this rise in average rates could be down to larger introductory bonuses to boost initial rates. For example, our research has seen the average bonus for a notice account grow from 0.77% two years ago, to 1.06% today.

“Whilst not as universally popular as their easy access counterpart, notice accounts tend to pay slightly better rates. This is mainly due to the provision that savers will only access funds after advance notice is given to the provider.

“The top notice accounts are offered by lesser-known providers, such is the case with a lot of market-leading savings accounts at the moment. Investors would be wise to check out the market thoroughly to ensure they can take advantage of the best savings deal for them.” - The Money Search Engine is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.

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