Notice Savings Accounts

A notice savings account is a type of savings account that has no fixed term but requires a notice period before you can withdraw your money. They offer more flexibility than a fixed term account. They work best if you don’t want to lock your funds away for a long time but will know in advance when you need access to your savings.

The notice period will differ depending on the account you have chosen. For example, if you choose a 45 day notice period, you’ll receive your funds 45 days after you request it.

Although notice accounts are more flexible than a fixed rate bond, the notice period means they are not suitable for people who want to access their funds at any time. For those who want even more flexibility, an easy access account could be right for you.

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.

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.

You can add money to your account, up to your maximum deposit amount, whenever you like.

How to make a deposit into your 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.