Savings Bond with low or no penalties

luvpump

Are there any bonds with very low withdrawing penalties, very much like the Newcastle Bonds of a few years ago where you could take the lot out with a few months notice & no penalties ?? cheers

s20544

First Direct and Marks & Spencers savings accounts allow early closure with only a £50 to £100 penalty. This is quite a small penalty if a large deposit is made.However, interest rates for these bonds are now very low, less than 2%.


Julian Hodge bank is offering 1.8% on balances of £50k plus with 90 days notice for withdrawls.

For ISAs I believe that Yorkshire Bank are offering 2% account which allows withdrawls if 40 days notice is given.


If anyone knows of anything that would better this for balances of £85k, avoiding multiple current accounts etc, I would be pleased to hear.

alanq

Paragon and Shawbrook are offering 1.9% for 120 days' notice variable. The Julian Hodge 1.8% is also variable.

See http://moneyfacts.co.uk/savings/notice-accounts/

The OP refers to a "savings bond" and a Newcastle account that was fixed rate and fixed term.