Notice Accounts

Johnny-Cage · 4 June 2023 at 10:48AM

Barkin said:

daz_f said:

Thinking the Investec 120 days might be the best option

Where do you see this?

I only see 3 accounts on their website: EA, 90 day & 1yr fix.

It was a mistype the HTB was 120 days not Investec

Johnny-Cage · 4 June 2023 at 10:52AM

TheBanker said:

daz_f said:

Looking for a notice saving account

Currently saving for an extension which funds will likely be needed at some point next year.
Notice accounts seems a better option than doing a fixed year.

I have a Halifax Everyday saver that expires in July but the interest rate is appalling.

Thinking the Investec 120 days might be the best option with paying interest monthly rather than the HTB that pays interest annually

opinions

If you're thinking is that you need monthly interest because you don't intend to hold the account for a year, do not worry. Interest is calculated daily in the background, and at the point you close the account any interest owed will be paid. If you have annual interest and close the account before the first interest payment, this will be the whole amount. If you have monthly but close the account mid-month, you'll get a couple of weeks' interest to cover the gap between the last payment and the closure date.

Argh didn’t realise that never done a Notice savings account.

So might as well go for the highest AER which is HTB from what I have seen so far, I very much doubt I would make a 12 months term on a savings account but will always depend how much I keep saving per month

Another question is it worth pulling out all my savings from the Halifax Everyday Saver now or wait until the 12 months term is up on 31st July seen as that is only 0.95% gross

Thanking anyone in advance and previously for there replies

refluxer · 4 June 2023 at 11:13AM

daz_f said:
Another question is it worth pulling out all my savings from the Halifax Everyday Saver now or wait until the 12 months term is up on 31st July seen as that is only 0.95% gross

The Everyday Saver is just an instant access account so I would definite look at a better option for any cash you need access to - you can get 3 times that amount (it's currently paying 1.30%) in the best-paying easy access account at the moment !

https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false

The 12 month period is simply the amount of time you can hold an Everyday Saver until it reverts to an Instant Saver, but there is no obligation to hold it for that long.

Johnny-Cage · 4 June 2023 at 11:19AM

refluxer said:

daz_f said:
Another question is it worth pulling out all my savings from the Halifax Everyday Saver now or wait until the 12 months term is up on 31st July seen as that is only 0.95% gross

The Everyday Saver is just an instant access account so I would definite look at a better option for any cash you need access to - you can get 3 times that amount in the best-paying easy access account at the moment !

https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false

I don’t need instant access to the savings why it’s all going in a notice savings account. So with the Halifax being measly at 0.95% pull it out now than wait for the term

SuzzleBumpkin · 6 June 2023 at 6:03PM

Well, this is a weird one. Ive never seen a bank do this before. I’ve got to applaud the effort to give the rate rise to people who already have an account though. I like the banks that take care of their established customers. Not sure about having your account number changed with only a sentence mid-blurb to let you know. Still, A for effort. I’m certainly happy about the rate rise.