Notice Accounts

Bridlington1

Bridlington1 said:

I can't see it mentioned anywhere but Market Harborough now have a 195 day notice account at 5.3% (£10k min). A notable feature of this account is that unlike some of the other notice accounts, they will either give you 202+ days notice of any interest rate reductions or 14 days notice with a 60 day window to make immediate withdrawals from/close the account.

Market Harborough have now upped their 195 day notice rate from 5.3% to 5.45%

Middle_of_the_Road

Bridlington1 said:

Bridlington1 said:

I can't see it mentioned anywhere but Market Harborough now have a 195 day notice account at 5.3% (£10k min). A notable feature of this account is that unlike some of the other notice accounts, they will either give you 202+ days notice of any interest rate reductions or 14 days notice with a 60 day window to make immediate withdrawals from/close the account.

Market Harborough have now upped their 195 day notice rate from 5.3% to 5.45%

Wasn't expecting rate rises after so many recent reductions. Is this the second one recently, seem to remember you posted one not long ago?

Rheumatoid

Can any Oxbury customer let me know if the 120 day 5.53 is still available? Thanks.

RosieRooBear

@Rheumatoid, I’ve just logged in to check for you and yes it’s still available 😊

Rheumatoid

RosieRooBear said:

@Rheumatoid, I’ve just logged in to check for you and yes it’s still available 😊

Thank you very much

Burcot

Opened the Oxbury 120d today.  Haven't had a response from them yet about opening another 90d account or adding to my 90day account. Someone on here said I can add to the 90day anytime, which was good to hear. 

Vanquis are also still offering 90d 5.4% issue 3!

edit: just received this from Vanquis: I can confirm that you can continue to grow your savings by making regular deposits into your 90 Day Notice Account up to a maximum of £250,000.00. I can further confirm that you can open a new 90 Day Notice Account at the interest rate advertised by visiting our website at www.vanquissavings.co.uk, as there are no limits to the number of accounts you can have with us.

I wonder if I add to my original still open account I retain the better interest reduction terms as Rheumatoid kindlet mentions below!?

Rheumatoid

Burcot said:

Opened the Oxbury 120d today.  Haven't had a response from them yet about opening another 90d account or adding to my 90day account. Someone on here said I can add to the 90day anytime, which was good to hear. 

Vanquis are also still offering 90d 5.4% issue 3!

I think Vanquis have unfavourable interest reduction terms

refluxer

Burcot said:

Opened the Oxbury 120d today.  Haven't had a response from them yet about opening another 90d account or adding to my 90day account. Someone on here said I can add to the 90day anytime, which was good to hear. 

I have an Oxbury notice account and can confirm that you're free to make deposits any time you like. 

Generally-speaking, being able to make deposits into a notice account at any time is standard in my experience so in that respect, a notice account works like an easy access account, with the major difference being that you have to give x days notice for a withdrawal. 

Banks do have the option to declare that they're no longer accepting deposits to any bank account like this in theory, but they'd have to contact you and give you notice of such a restriction and I think it's more likely that they'd simply reduce the interest rate if the account became unsustainable to them, rather than do this.

proudgecko

janusdesign said:

proudgecko said:

Hi, does anyone know how much notice UTB give you for a reduction in interest rate on their 200 day notice account. I can't find it in their T&Cs

the relevant section in the t&c states...

B1.4 Interest rates are variable. Where a notice account tracks the Bank of England Base Rate, the interest rate applied to the Tracker Account will be amended to reflect movements in the Bank of England Base Rate within three days of a change by the Bank of England. Interest rates can increase or decrease in line with the changes to the Bank of England Base Rate. Where no such rate is available, the account will track the nearest equivalent rate we specify acting reasonably from time to time.

I don't know if there is anything specifically mentioned in the 200-day notice product details (it's no longer available), and there is nothing specific in their 30-day notice, so I would say that it could move quite quickly - it might be best to send them a secure message or give them a call.

I only have their notice tracker and as per above, i've always known that will move quickly with a BoE rate change.

just in case anyone else has UTB 200-day notice account (its not a tracker).
Just got this reply from UTB
"Should the rate on a Notice Account decrease, we will send you notification at least 14 days before the new rate takes effect. We then provide you with an extra 30 days where you may choose to close or switch your account without penalty, loss of interest or providing notice." 

gwapenut

Stafford building society have reduced the interest on their 120, day notice account by 0.25%. I was not personally notified despite holding an extremely large balance. While this is within their terms and conditions, I find it icky behaviour.

Edit. Actually, their terms and conditions, do not match the promises in their FAQs.

I also note that although the account is listed under their savings accounts as NLA with that rate, my online banking is still showing the higher rate of 5.70%.