No notice savings accounts allow customers to earn interest on money that will still be relatively accessible. However, it is important to remember that they are not without their drawbacks.
The interest rates on these types of accounts are often lower compared to other types of savings account. Although it is possible to find accounts with a good rate of interest, customers are unlikely to find one with interest rates that are comparable to a fixed rate ISA for example.
Customers will be taxed on any interest that is earned from using a no notice savings account, so it is therefore important to consider how often it will be necessary to withdraw money from such an account.
If withdrawals are not going to be regularly made from a no notice account, it may instead be worth an account with a better interest rate, such as an ISA . You should have these details as clears as you can before you begin a comparison of savings deals through the use of the tables on this page.