Notice Accounts

NameWithheld

refluxer said:

Oaknorth have increased the rate on their 120 day notice account to 3.93% (AER) - this doesn't appear to have been picked up by the comparison sites yet (at the time of posting this)...

https://oaknorth.co.uk/personal-savings/notice-accounts/

Thanks. That beats Oxbury

StayinAlive

refluxer said:

Oaknorth have increased the rate on their 120 day notice account to 3.93% (AER) - this doesn't appear to have been picked up by the comparison sites yet (at the time of posting this)...

https://oaknorth.co.uk/personal-savings/notice-accounts/

Last I heard, it was going up to 3.70% on May 1st but see it is advertising 3.93% now for new applications.

Wonder how this affects existing accounts - haven't heard from them.

NameWithheld

StayinAlive said:

refluxer said:

Oaknorth have increased the rate on their 120 day notice account to 3.93% (AER) - this doesn't appear to have been picked up by the comparison sites yet (at the time of posting this)...

https://oaknorth.co.uk/personal-savings/notice-accounts/

Last I heard, it was going up to 3.70% on May 1st but see it is advertising 3.93% now for new applications.

Wonder how this affects existing accounts - haven't heard from them.

You can open a new account and transfer any money in the old one over. But you will have to cancel any notice you've given for any money you want to transfer

Chloe_G

My 90 day Oaknorth account is only on 3.65% which is now the same as Shawbrook Easy Access - not sure whether to give notice or if they'll improve rate.

EthicsGradient

Chloe_G said:

My 90 day Oaknorth account is only on 3.65% which is now the same as Shawbrook Easy Access - not sure whether to give notice or if they'll improve rate.

Notice accounts I've used (which doesn't include Oaknorth, however) have allowed me (and pointed this out to me in the email saying the rate is going up) to cancel pending withdrawals. In which case, you could give notice, and if they later improve it sufficiently, cancel the notice.

StayinAlive

NameWithheld said:

StayinAlive said:

refluxer said:

Oaknorth have increased the rate on their 120 day notice account to 3.93% (AER) - this doesn't appear to have been picked up by the comparison sites yet (at the time of posting this)...

https://oaknorth.co.uk/personal-savings/notice-accounts/

Last I heard, it was going up to 3.70% on May 1st but see it is advertising 3.93% now for new applications.

Wonder how this affects existing accounts - haven't heard from them.

You can open a new account and transfer any money in the old one over. But you will have to cancel any notice you've given for any money you want to transfer

Didn't need to in the end. They just said they would apply the new rate to the old account automatically.

SuzzleBumpkin

CHIP (easy access) just raised their rate to 3.71%. Higher than most 90 day notice accounts. That should prompt more upward movements. 😁

Middle_of_the_Road

SuzzleBumpkin said:

CHIP (easy access) just raised their rate to 3.71%. Higher than most 90 day notice accounts. That should prompt more upward movements. 😁

Great.... don't forget to turn autosave off.

SuzzleBumpkin

Middle_of_the_Road said:

SuzzleBumpkin said:

CHIP (easy access) just raised their rate to 3.71%. Higher than most 90 day notice accounts. That should prompt more upward movements. 😁

Great.... don't forget to turn autosave off.

Ha ha ha! I’ve already got an account. I’m actually using auto save now to save my tax money every month.  But thanks for the reminder. I originally learned the hard way when it took a lump of money out of my current account and stuck it in their weird prize draw account. 🙄

Band7

SuzzleBumpkin said:

Ha ha ha! I’ve already got an account. I’m actually using auto save now to save my tax money every month.  But thanks for the reminder. I originally learned the hard way when it took a lump of money out of my current account and stuck it in their weird prize draw account. 🙄

I wouldn't use autosave myself as I believe there's a charge for it, and I'd rather determine myself what goes into my savings account. But I have parked £100 in the weird prize draw account recently, just as a punt, and because I am maxed out on Premium Bonds which have better odds.