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Easy access savings account rates beat notice accounts

15 August 2009 / by Andy Davies

Easy access savings accounts are now offering higher interest rates than notice savings accounts, according to Moneyfacts.co.uk.

Since United National Bank reduced the interest rate on its 3 Month Gold Deposit Account by 0.50 per cent to 3.00 per cent, Egg now offers a higher interest rate on its instant access savers account, which offers an interest rate of 3.25 per cent.

Customers can open an Egg easy access account with a £1 deposit, while the Citi Flexi Saver account offers an interest rate of 3.10 per cent AER, also with a £1 deposit.

Commenting on the news, Michelle Slade, spokesperson at Moneyfacts.co.uk says that although notice savings accounts have historically offered much higher rates than easy access accounts, Moneyfacts has found that 30 per cent of customers are now looking for easy access savings.

She said: "Providers are increasingly turning to their savings books to fund their lending activity. Those unable to compete in the ever competitive fixed rate bond market have moved to offering top rates on easy access."

Ms Slade added: "There is now no incentive for savers to invest their money in a notice account when they can get better rates and access to their money as soon as they need it."

Compare easy access savings accounts»

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Latest Fixed Rate Bond Deals

Account	Rate	Term	Apply
Meteor Income Deposit Plan	7.25%	6 Years	Apply Now >
A 6 year capital protected structured deposit plan designed to pay 7.25% annual income. Also available as a cash ISA and ISA transfer.			Apply Now >
5 Year Fixed Term Deposit Account	4.60%	5 Years	Apply Now >
Interest paid either Annually at 4.60% Gross/AER, Quarterly at 4.52% Gross or Monthly at 4.50% Gross. Minimum Deposit £10,000.			Apply Now >
Legal & General Inflation Protected Deposit Bond	RPI Tracker	5 Years	Apply Now >
5 year capital protected structured deposit plan offering 100% of any growth in the Retail Prices Index with no cap, or a minimum return of 16%. Also available for Cash ISA and Cash ISA transfer.			Apply Now >

Account	Interest Rate (AER)	Term	Apply
Legal & General Inflation Protected Deposit Bond	RPI Tracker	5 Years	Apply Now >
5 year capital protected structured deposit plan offering 100% of any growth in the Retail Prices Index with no cap, or a minimum return of 16%. Also available for Cash ISA and Cash ISA transfer.			Apply Now >
Meteor Income Deposit Plan	7.25%	6 Years	Apply Now >
A 6 year capital protected structured deposit plan designed to pay 7.25% annual income. Also available as a cash ISA and ISA transfer.			Apply Now >

* Income payments and returns are dependent upon the FTSE 100 Index.

Provider	Account	Interest Rate (AER)	Term	Apply
	5 Year Fixed Term Deposit Account	4.60%	5 Years	Apply Now >
	Interest paid either Annually at 4.60% Gross/AER, Quarterly at 4.52% Gross or Monthly at 4.50% Gross. Minimum Deposit £10,000.			Apply Now >
	Vanquis Bank 3 Year Fixed Rate Bond	4.01%	3 Years	Apply Now >
	Earn 4.01% gross/AER fixed for 3 years. Save £1,000 - £250,000. No withdrawals during the term. Individual or joint accounts available			Apply Now >
Only Available to Natwest Current Account Customers	2 Year Fixed Rate Bond	3.70%	2 Years	Apply Now >
Only Available to Natwest Current Account Customers	3.40% Gross/AER on balances of £5,000 - £24,999. 3.70% on balances of £25,000 - £500,000. Existing Customers Only. No withdrawals or additional deposits.			Apply Now >
Only Available to RBS Current Account Customers	2 Year Fixed Rate Bond	3.70%	2 Years	Apply Now >
Only Available to RBS Current Account Customers	3.40% Gross/AER on balances of £5,000 - £24,999. 3.70% on balances of £25,000 - £500,000. Existing customers only. No withdrawals or additional deposits.			Apply Now >
	ING Direct Savings Account	2.90%	Instant Access	Apply Now >
	2.90% AER variable (2.86% gross p.a.) including a fixed bonus of 2.36% gross p.a. for 12 months from account opening. After 12 months the rate will revert to the standard variable rate.			Apply Now >
	18 Month Fixed Rate Bond	2.80%	18 Months	Apply Now >
	18 Month Fixed Rate - 2.80% AER. Open to new and existing customers. Click to learn more.			Apply Now >
	E-Cash ISA	2.50%	Instant Access	Apply Now >
	Instant access cash ISA open to new and existing customers. Transfers accepted. £10 minimum deposit.			Apply Now >
	9 Month Fixed Rate Bond	2.50%	9 Months	Apply Now >
	9 Month Fixed Rate - 2.50% AER. Open to new and existing customers.			Apply Now >

Account	Interest Rate (AER)	Term	Apply
5 Year Fixed Term Deposit Account	4.60%	5 Years	Apply Now >
Interest paid either Annually at 4.60% Gross/AER, Quarterly at 4.52% Gross or Monthly at 4.50% Gross. Minimum Deposit £10,000.			Apply Now >
3 Year Fixed Term Deposit Account	4.00%	3 Years	Apply Now >
Interest paid annually at 4.00% (gross), quarterly at 3.94% (gross), or monthly at 3.93% (gross). Minimum Deposit £10,000.			Apply Now >
1 Year Fixed Rate Bond	3.60%	1 Year	Apply Now >
3.60% Gross/AER fixed for 1 year. Deposit from £1,000. No maximum deposit.			Apply Now >

See other fixed rate bonds

Account	Interest Rate (AER)	Term	Apply
ING Direct Savings Account	2.90%	Instant Access	Apply Now >
2.90% AER variable (2.86% gross p.a.) including a fixed bonus of 2.36% gross p.a. for 12 months from account opening. After 12 months the rate will revert to the standard variable rate.			Apply Now >
Direct Transfer Account	2.80%	Easy Access	Apply Now >
Includes a 0.89% bonus payment for the 1st 12 months giving you a return of 2.80% AER. Open with £1,000.			Apply Now >
Online Saver	2.80%	Instant Access	Apply Now >
2.80% gross/AER variable including 12 month fixed bonus of 2.70%. Enter the Halifax Savers Prize Draw for a chance to win £100,000 or one of a thousand smaller prizes. (You must hold £5,000 in savings each month and register.)			Apply Now >
Nationwide Regular Savings	up to 2.50%	Instant Access	Apply Now >
Earn tiered rates of up to 2.50% Gross/AER when you save £500 or more. Open with £1. Unlimited withdrawals. Save up to £1,000 each month.			Apply Now >
Lloyds TSB International Bonus Saver	1.51%	Instant Access	Apply Now >
From 0.6% - 2.01% with 12 month bonus.			Apply Now >
Natwest E Savings	1.00%	Instant Access	Apply Now >
1.00% AER Gross (variable)			Apply Now >
Direct Saver	1.00%	Instant Access	Apply Now >
Earn from 1.00-1.50% AER/Gross (variable) 1.50% rate includes a bonus of 0.50%			Apply Now >
Online Bonus Saver	0.75%	Instant Access	Apply Now >
0.75% including a 0.50% bonus on months where you don't make a withdrawal. Rate without bonus is 0.25%.			Apply Now >

See more instant access savings accounts

Provider	Account	Interest Rate (AER)	Term	Apply
	5 Year Fixed Term Deposit Account	4.60%	5 Years	Apply Now >
	Interest paid either Annually at 4.60% Gross/AER, Quarterly at 4.52% Gross or Monthly at 4.50% Gross. Minimum Deposit £10,000.			Apply Now >
	4 Year Fixed Online Saver	4.15%	4 Years	Apply Now >
	4.15% Gross/AER fixed for 4 years. No additional deposits or withdrawals. Enter the Halifax Savers Prize Draw for a chance to win £100,000 or one of a thousand smaller prizes.			Apply Now >
	2 Year Fixed Online Saver	3.75%	2 Years	Apply Now >
	3.75% Gross/AER fixed for 2 years. No additional deposits or withdrawals. Enter the Halifax Savers Prize Draw for a chance to win £100,000 or one of a thousand smaller prizes.			Apply Now >
Only Available to Natwest Current Account Customers	2 Year Fixed Rate Bond	3.70%	2 Years	Apply Now >
Only Available to Natwest Current Account Customers	3.40% Gross/AER on balances of £5,000 - £24,999. 3.70% on balances of £25,000 - £500,000. Existing Customers Only. No withdrawals or additional deposits.			Apply Now >
Only Available to RBS Current Account Customers	2 Year Fixed Rate Bond	3.70%	2 Years	Apply Now >
Only Available to RBS Current Account Customers	3.40% Gross/AER on balances of £5,000 - £24,999. 3.70% on balances of £25,000 - £500,000. Existing customers only. No withdrawals or additional deposits.			Apply Now >
Only Available to Natwest Current Account Customers	1 Year Fixed Rate Bond	3.20%	1 Year	Apply Now >
Only Available to Natwest Current Account Customers	3.00% Gross/AER on balances of £5,000 - £24,999. 3.20% on balances of £25,000 - £500,000. Existing customers only. Deposit £5,000 - £500,000. No withdrawals or additional deposits.			Apply Now >
	1 Year Fixed Rate Bond	3.60%	1 Year	Apply Now >
	3.60% Gross/AER fixed for 1 year. Deposit from £1,000. No maximum deposit.			Apply Now >
	6 Month Fixed Rate Bond	3.28%	6 Months	Apply Now >
	3.28% AER fixed for 6 months. Deposit from £1,000. No maximum deposit.			Apply Now >
	18 Month Fixed Rate Bond	2.80%	18 Months	Apply Now >
	18 Month Fixed Rate - 2.80% AER. Open to new and existing customers. Click to learn more.			Apply Now >
	9 Month Fixed Rate Bond	2.50%	9 Months	Apply Now >
	9 Month Fixed Rate - 2.50% AER. Open to new and existing customers.			Apply Now >

See other fixed rate bonds