Best notice savings accounts

What is a notice account?

Notice savings accounts allow you to withdraw money from your savings, but only after giving the provider a certain amount of notice which could range from as little as seven days to as much as 180 days. Notice periods between 30 and 90 days are particularly common.

Often, accounts with a longer notice period pay a higher interest rate, but this isn’t always the case.

While you need to give notice when you want to withdraw any money, you can usually add to a notice account without any restrictions.

Notice savings accounts are a kind of compromise between the flexibility offered by easy access accounts (which typically allow you to instantly withdraw your funds) and the strict conditions of fixed rate bonds (which typically don’t allow any access to your money during the term).

They are designed for savers who want the option to access their savings but can plan their withdrawals in advance and won’t need to use the money immediately.

The interest rate on a notice account is usually variable, which means the rate could go up or down.

If the provider drops the interest rate, they will give you notice about the change. As a minimum, for many providers, this will usually be the length of the notice period you have for withdrawals but could be a shorter period.

How to withdraw from a notice savings account

When you want to withdraw from a notice account, you need to wait the specified period of time before you can receive your money.

For example, if you have a 30-day notice account, you won’t be able to access your money for 30 days after requesting the withdrawal. Similarly, if you have a 90-day notice account you need to wait 90 days.

The money you’ve requested to withdraw may continue to earn interest during the notice period.

Note that, when you request a withdrawal, you need to specify the amount of money you want to withdraw and you’ll only be able to access this sum after the notice period.

Bear in mind that some providers may only allow one notice period to run at one time. This means that, after requesting a withdrawal, you won’t be able to request another withdrawal until the notice period ends and you have received your money.

Some providers allow you to withdraw your money immediately, without waiting for the end of the notice period. While this can be useful if you need to access your savings in an emergency, this will typically come with a penalty, such as a loss of interest equivalent to the notice period.

Depending on the management methods offered by an account, you can request a withdrawal online, by mobile app or by post, for example.

Can you add money to a notice account?

Most providers will allow you to continue to deposit into a notice account and add to your savings without restriction.

This is different to a fixed rate bond which typically only allows you to make deposits when opening the account, or for a limited time afterwards.

How to choose a notice account

When choosing the best notice account for your situation, it’s worth thinking about the following points:

• What is the interest rate? This is crucial as it determines how much of a return you’ll get on your money. Even a slightly higher rate can make a notable difference, so it’s worth comparing accounts to make sure you’re getting a competitive return.
• How long is the notice period? If you want the reassurance that you can access your money relatively quickly, you can choose an account with a short notice period. However, if you’re happy to provide a longer period of notice, these accounts may pay a higher rate of interest. Accounts with a longer notice period can be useful if you want to use your savings for a specific goal (such as a holiday, wedding or house deposit) as you can request the withdrawal in advance to make sure you have the money by the time you need it.
• Does the provider allow you to access your money before the end of the notice period and, if so, what is the penalty? Certain providers may allow you to withdraw your money immediately, without waiting for a notice period. This can be a useful back-up option if your plans change, or you need to access your money to cover an emergency expense. However, earlier access usually comes with a penalty charge such as a loss of interest. Bear in mind that some providers don’t allow earlier access, so always check the terms of an account before opening if this is an important factor for you.
• How is the interest paid? Notice accounts can pay interest monthly, yearly or on anniversary, for example, so you can choose the option you prefer. Monthly interest accounts can be useful if you want your savings interest to act as a supplement to your income.
• What is the minimum opening deposit required? Some providers may allow you to open a notice account with a deposit of just £1, whereas others may require a more substantial deposit of £10,000 or more. Make sure you choose an account that has an appropriate deposit requirement for your situation.
• How can you open and manage the account? This is important as there’s no point opening an online-only account if you want the option to speak to the provider in person or over the phone. You can view the opening and management methods offered by an account to make sure you choose one that has your preferred options.

Check the terms and conditions of a notice account before opening it to make sure it’s right for you.

How do notice savings rates compare in 2025?

As with other variable savings rates, average notice savings rates have gradually declined over the course of 2025.

Since 1 August 2024, the Bank of England’s Monetary Policy Committee (MPC) has cut the base rate from 5.25% to 4%, which in turn has prompted many savings providers to lower the rates they pay on their accounts.

For example, the average notice savings rate stood at 4.30% at the start of August 2024 compared to 3.62% one year later.

If you deposited £5,000 in a notice account paying 4.30%, you could earn £215 in interest over one year (assuming the rate stays the same and you don’t add to or withdraw from your account). By contrast, if you deposited the same sum at the lower rate of 3.62%, you would earn just £181 in interest.

Use our savings calculator to work out how much interest you could earn on your savings.

While notice accounts traditionally offer higher rates than easy access accounts because of the delay in receiving any withdrawals, this may not always be the case. Recently, the leading easy access accounts have offered higher, or comparable, interest rates to the top notice accounts, so always check our charts to see which accounts may offer the best return.

Are you at risk of being taxed on your savings interest?

If you have a notice savings account, or any other savings account, check that the interest you earn in total doesn’t go above your Personal Savings Allowance (PSA), otherwise you may need to pay tax.

The PSA is set at £1,000 for basic-rate taxpayers and £500 for higher-rate taxpayers, while additional-rate taxpayers don’t have a tax-free allowance.

Alternatives to a notice savings account

If a notice savings account isn’t right for you, it’s worth considering other types of savings accounts to see if they could be more suitable.

• Easy access accounts: These are likely to be a good option if you want to be able to withdraw money from your savings immediately, without waiting the length of a notice period.
• Fixed rate bonds: If you’re confident you won’t need to use your savings for a number of months or years, a fixed rate bond may pay a higher rate. And, unlike notice accounts, the rate is fixed and won’t change for the length of the term. You can take out a fixed bond for terms of one-year or two-years or, if you’re willing to lock your money away for longer, there are terms of three-years, four-years and five-years available.
• Regular savings accounts: These could pay a higher rate than notice accounts, but they typically come with stricter terms and usually require you to make a minimum deposit every month.
• Individual savings accounts (ISAs): ISAs are similar to savings accounts, but the key difference is that any interest you earn on an ISA is tax-free. As a result, they may be worth considering if you’re concerned about breaching your Personal Savings Allowance (PSA) and being taxed on your savings interest.

You can choose from easy access ISAs, notice ISAs and fixed ISAs, depending on your preferences. If you opt for a fixed term, you can decide between terms of one-year, two-year, three-year, four-year or five-year and the rate won’t change for this period. Alternatively, Lifetime ISAs can be an option if you want to save up for your first home or for retirement.