Take a look at our Notice Accounts
No Notice Account (0.10%)
8 Day Notice Account (0.10%)
Confirmation of Payee Information
Because Hodge isn’t part of the Confirmation of Payee Scheme yet, you might get a warning when you open your account and try to deposit money. It’s nothing to worry about – as long as you enter your details correctly your money will still reach us.Find out more
How to Apply
To open an account with us, you either apply online or offline
About our Notice Accounts
If you’re looking to save for a longer period of time, the average easy access savings account doesn’t always offer the best interest rates. However, if you can afford to lock your money away in a notice saving account and give your lender notice before withdrawing, you can make your money earn its keep.
Keep reading to find out everything you need to know about our notice savings accounts and the benefits to opening one.
What is a notice savings account?
As the name suggests, a notice savings account is where you have to give your bank notice before withdrawing any funds. The amount of notice you’ll need to give can vary quite dramatically, from as little as none to as much as 90 days– so you’ll need to factor this into your decision.
It’s important to remember that you won’t be able to access the money tied up in your notice saving account before the notice period is up. You can, however, place multiple notices at the same time, for different amounts – which helps make things a little more flexible.
Who can open a savings notice account?
As long as you can afford to part with a minimum of £1000 and abide by the notice period before withdrawing, most people can open a notice savings account (see our full eligibility criteria here). These types of accounts are ideal for saving for bigger expenses such as a wedding or a once in a lifetime holiday, where you’ll know exactly when you’ll need to access the cash.
One of the occasions when a notice savings account is usually not suitable is when it’s for a rainy-day fund. Most of the time these accounts won’t allow you quick access to your cash when in a bond, but that’s why we created a no notice savings account option – so you can take advantage of the great benefits and access your funds whenever you need to.
Benefits of notice savings accounts
There are a few great benefits to notice savings accounts, including:
- Interest rates: the more you can afford to set aside and the longer notice period you choose, the better interest rates you’ll unlock and the harder your money will work.
- Ideal for saving for larger purchases: one of the great benefits for choosing this type of savings account is that it’s harder to access your money, which serves as a big deterrent for you dipping into your savings pot.
- FCSC protection: up to £85,000 of your cash will be protected by the Financial Services Compensation Scheme (FCSC), so you can save and keep your cash safe.
Now you know the reasons why you should invest your money into a notice savings account, take a look at our great range of products.