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high interest notice accounts
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gentlepurr
Posts: 4,123 Forumite
sorry if this has been discussed before, but its a new idea to me, so i thought i'd share it.
i have a high interest savings account, with no loss of interest if i give 90 days notice of withdrawal. Thinking that i may need to withdraw at some point soon (due to house purchase) i enquired as to the flexibility of the withdrawal period, and was told i can permanenly keep going in to put as many notice of withdrawals on the account as i want, so effectively, after the fist 90 day wait, i could have rolling notice of withdrawals ad infinitum on the account, therefore turning it into an instant access with no loss of interest account............
seems like a good idea to me!
xx
i have a high interest savings account, with no loss of interest if i give 90 days notice of withdrawal. Thinking that i may need to withdraw at some point soon (due to house purchase) i enquired as to the flexibility of the withdrawal period, and was told i can permanenly keep going in to put as many notice of withdrawals on the account as i want, so effectively, after the fist 90 day wait, i could have rolling notice of withdrawals ad infinitum on the account, therefore turning it into an instant access with no loss of interest account............
seems like a good idea to me!
xx
"It is not uncommon for slight acquaintances to get married, but a couple really have to know each other to get divorced." - Anonymous
0
Comments
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I agree, it is a good idea.
Having said that, whilst some years ago you could get higher interest rates on notice accounts as compared to instant access accounts, it seldom now seems to be the case.
No doubt somebody will now quote an example to contradict me!!!
StompaStompa0 -
can't remember exact % but portman b. s. 90day notice was (is?) better interest than my nationwide mini isa, & no upper savings limit in the tax year.
xx"It is not uncommon for slight acquaintances to get married, but a couple really have to know each other to get divorced." - Anonymous0
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