ICICI Bank UK’s Notice Savings Account and Raisin UK – 95 Day Notice Account both pay 0.85% gross monthly. Notice Savings Account requires a £1 minimum deposit to open and a HomeVantage Current Account is needed. It allows further additions. Withdrawals are permitted subject to 95 days’ notice and all transactions must be made via a linked HomeVantage Current Account. It can be both opened and managed online, in branch and by phone. It should be noted that the rate will reduce to 0.55% on 15.3.21 and 0.35% on 3.5.21. Raisin UK – 95 Day Notice Account requires a £1,000 minimum deposit to open and allows further additions. Withdrawals can be made but must be of the full account balance and subject to 95 days’ notice and account closure. The account must be opened online, but can then be managed online, by post and by phone. It should be noted that the rate will reduce to 0.55% on 9.3.21 and 0.35% on 27.4.21. This account benefits from Raisin UK offering a bonus or Amazo
Aviva: UK Savings Soar Yet £225bn Remains In Non-Interest Bearing Deposits Date
1, average £5,000 per household
Interest rates remain at historically low levels
2
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The Bank of England’s Monetary Policy Report
1 in February 2021 showed that “households have accumulated an excess stock of savings of £125 billion” throughout the pandemic, equating to an average of £5,000 per household. The Bank of England expects this figure “to rise substantially over the first half of 2021”, despite interest rates remaining at historically low levels
2.
Against this backdrop, leading savings and retirement firm Aviva has today launched a new cash savings platform, Aviva Save
4. This new online marketplace gives customers a choice of different savings accounts from a variety of banks. More banks and savings accounts, including notice and easy access accounts, will be added to Aviva Save throughout 2021, increasing the range of ongoing choice for its customers.
Insurance and investment giant Aviva has launched its own cash savings platform, This is Money can reveal, but savers will earn more by going to the banks directly.
Britain s largest insurance firm s answer to the likes of Hargreaves Lansdown Active Savings and Flagstone has opened with 15 fixed-rate bonds offered by Aldermore, Oaknorth and Paragon Bank in partnership with fellow cash platform Raisin.
The bonds, which have terms ranging from six months to five years, pay up to 0.65 per cent and are open to savers able to deposit £1,000 or more.
Insurer and investment firm has joined the likes of AJ Bell and Hargreaves Lansdown in offering a cash savings marketplace
As with the top easy access saving accounts, the top paying notice accounts all have some type of opening restriction. Again, savers looking for an account without any opening restrictions should visit our notice account chart where they will be able to find lower-paying accounts that are available to all without restrictions.
ICICI Bank UK had the top notice account rate this week with its Notice Savings Account paying 0.85% gross monthly on a £1 opening minimum deposit and is available to new and existing HomeVantage Current Account customers. Further additions are allowed. Withdrawals can be made subject to 95 days’ notice. All transactions must be made via a linked HomeVantage Current Account. This account can be opened and managed online, in branch and by phone. Customers should be aware that the rate will reduce to 0.55% on 15 March 2021.
Published: 21/01/2021 Share
The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
Savings
Amongst other updates to its savings range, Hampshire Trust Bank has launched a new 18-month fixed rate bond this week. Paying 0.75% on anniversary, this bond secures a position in our top rate tables when compared to other bonds of similar terms and may well be attractive to savers who are happy to secure their savings pot away for the 18-month term and are comfortable with the minimum investment amount of £1,000. As is common with fixed rate bonds, early access is not permitted, however, further additions can be made for 14-days from opening the account, which may be a plus for some. On balance, this account earns an Excellent Moneyfacts product rating.