No Notice Savings Accounts in the UK

If you are looking for a flexible savings account in the UK, a no notice account may provide you with a number of benefits that may be useful depending on your circumstances. These accounts are provided by a large number of different providers, and it is therefore recommended to shop around for savings accounts to find the best deal.

These types of account are suitable for customers who are want instant access to their cash. Customers can generally withdraw money from these types of accounts whenever they wish.

We go into some of the pros and cons of no notice savings accounts available in the UK below, but first you should browse our comparison tables and get a feel for the kinds of savings account deals are available.

Although these accounts can provide customers with several useful benefits, it is always important to weigh up the pros and cons that are associated with this type of account.

Pros

• Customers can move extra money from their current account into this account for savings purposes, and can still access it at any time
• Interest may be earned considerably faster in comparison to a current account
• No notice period must be given for withdrawals, and customers may not be subjected to any penalties for withdrawing money

Cons

• Despite the increase in savings and relative accessibility offered by this type of account, they are not as practical as current accounts. Customers cannot use these accounts to pay for many every day transactions, such as direct debits and bill payments.
• Although many accounts are advertised as ‘instant access’ it is worth remembering that it may take up to three days for any money to be transferred between accounts.
• In the UK, no notice savings accounts may not generate the same level of interest that is provided by other savings orientated accounts, the interest earned will also be taxed

With these details in mind you should now be ready to perform a comprehensive comparison of different savings account deals to find the right one for you.

• Fixed rate savings accounts - Offering the security of a guaranteed interest rate
• Regular savings accounts - Watch your money grow quickly
• Instant access savings accounts - Access your cash when you need it

You can compare deals using the tables above to see if there's a monthly interest savings account to suit your needs and apply today.