Best 60 Day Notice Accounts

Is a 60-day notice account right for you?

60-day notice savings accounts may be right for you if you don’t mind giving some notice to access your funds, but you don’t want to lock your money away in a fixed rate bond. They can be ideal for those who can comfortably plan ahead or who have a specific savings goal in mind, and because they’re variable rate accounts, additional deposits can be made at any point, making them particularly suitable for those who want to build up their savings pot.

However, the withdrawal restrictions mean it’s essential to have suitable emergency savings elsewhere, and it’s important to consider your options so you know you’re making the right decision. Read our guide on choosing the right type of savings account to help.

How to withdraw your money

In order to withdraw your money, you’ll need to give 60 days’ notice to your savings provider, after which the money will be released. Typically, you’d be able to withdraw the money via an account you previously nominated. Just make sure to check the terms of your particular deal, as some won’t allow partial withdrawals, in which case the full balance will need to be withdrawn and the account closed.

While most accounts expect you to give sufficient notice before you can withdraw your funds, a few will allow earlier access, though this will usually be subject to an interest penalty (typically equating to 60 days’ loss). This kind of flexibility could be useful for those who may need to access funds in an emergency, but can have a significant impact on the amount of interest earned, so make sure to factor this in when choosing between deals.

Alternatives to 60-day notice savings accounts

If you don’t want to give quite so much notice to access your cash, an account with a shorter term could offer a great alternative. Notice periods are available from as little as seven days while still offering competitive returns. Alternatively, you may be willing to give even more notice to secure a higher interest rate (bearing in mind that in the current climate this may not always be the case), and there are plenty of options here too. Check out the best notice accounts to see the options available.

Other savings account options can include fixed rate bonds for those who want to lock away a lump sum, or easy access accounts for complete flexibility. Start the process and compare rates by using our charts to find the best deal for you.