Notice Accounts

If you’re looking to access your funds and earn interest on your savings, one of our Notice Accounts could be for you. Simply choose the notice period which best suits your needs.

Take a look at our Notice Accounts

No Notice Account  (0.10%)

Account Name

No Notice Account

What is the interest rate?

0.10 % Gross*/AER* – Annual

0.10 % Gross*/AER* – Monthly

Interest is calculated daily.  Annual interest is annually. Monthly interest is paid on the last working day of the month.

Can Hodge Bank change the interest rate?

Yes. If we change the interest rate, we will write to you giving you at least 7 days’ notice prior to the date of the interest rate change.

What would the estimated balance be after 12 months based on a range of deposits?

£1,001.00 This illustrative example assumes one initial deposit of £1,000, with no further additions with interest paid annually and added to the account. This projection is provided for illustrative purposes only & does not take into account the individual circumstances of a customer.

How do I open and manage my account?

You can open your account online or by post.

Accounts opened online can be managed via our internet banking and also by telephone.

Accounts opened by post can be managed by post and by telephone.

The minimum deposit for a Notice Account is £1,000.

For deposits made by cheque, interest is calculated from the second banking day on which the cheque is credited to the account. Cheques are cleared in 2 banking days using the Image Clearing System. This system allows banks to clear a digital image of the cheque rather than the original paper cheque.

Account holders must be aged 18 or over and be UK resident for tax purposes.

The maximum amount that may be held by you with us across all products may not in aggregate exceed £1,000,000 but we may waive this limit at our absolute discretion.

Can I withdraw money?

Yes, Notice is not required to access this account.

Additional information

When you open an account, you have 10 working days to transfer any funds in to that account.  If, after 10 days, no funds have been received or the funds held in the account do not meet the minimum balance, then we will close the account and return any money held in the account.

All deposits in and out of your account must come from your nominated bank account, which you provide as part of the application process.

We will pay interest without tax deducted.  However, if the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HMRC. For more information visit www.gov.uk and search ‘Personal Savings Allowance’.

Glossary of Terms

*Gross
Is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. The payment can be made annually or monthly.

**AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded each year.

 

8 Day Notice Account  (0.10%)

Account Name

8 Day Notice Account

What is the interest rate?

0.10% Gross*/AER** – Annual

0.10 % Gross*/AER** – Monthly

Interest is calculated daily.  Annual interest is annually. Monthly interest is paid on the last working day of the month.

Can Hodge Bank change the interest rate?

Yes.  If we change the rate, we will write to you giving you at least 8 days’ notice of the interest rate change.

What would the estimated balance be after 12 months based on a range of deposits?

1,001.00 This illustrative example assumes one initial deposit of £1,000, with no further additions with interest paid annually and added to the account. This projection is provided for illustrative purposes only & does not take into account the individual circumstances of a customer.

How do I open and manage my account?

You can open your account online or by post.

Accounts opened online can be managed via our internet banking and also by telephone.

Accounts opened by post can be managed by post and by telephone.

The minimum deposit for a Notice Account is £1,000.

For deposits made by cheque, interest is calculated from the second banking day on which the cheque is credited to the account. Cheques are cleared in 2 banking days using the Image Clearing System. This system allows banks to clear a digital image of the cheque rather than the original paper cheque.

Account holders must be aged 18 or over and be UK resident for tax purposes.

The maximum amount that may be held by you with us across all products may not in aggregate exceed £1,000,000 but we may waive this limit at our absolute discretion.

Can I withdraw money?

Yes. 8 days notice is required.

Additional information

When you open an account, you have 10 working days to transfer any funds in to that account.  If, after 10 days, no funds have been received or the funds held in the account do not meet the minimum balance, then we will close the account and return any money held in the account.

All deposits in and out of your account must come from your nominated bank account, which you provide as part of the application process.

We will pay interest without tax deducted.  However, if the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HMRC. For more information visit www.gov.uk and search ‘Personal Savings Allowance’.

Glossary of Terms

*Gross
Is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. The payment can be made annually or monthly.

**AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded each year.

90 Day Notice Account (Currently Unavailable)  (0.60%)

Account Name

90 Day Notice Account

What is the interest rate?

0.60% Gross*/AER** – Annual

0.60 % Gross*/AER** – Monthly

Interest is calculated daily.  Annual interest is annually. Monthly interest is paid on the last working day of the month.

Can Hodge Bank change the interest rate?

Yes.  If we change the rate, we will write to you giving you at least 90 days’ notice of the interest rate change.

What would the estimated balance be after 12 months based on a range of deposits?

£1,006.00 This illustrative example assumes one initial deposit of £1,000, with no further additions with interest paid annually and added to the account. This projection is provided for illustrative purposes only & does not take into account the individual circumstances of a customer.

How do I open and manage my account?

You can open your account online or by post.

Accounts opened online can be managed via our internet banking and also by telephone.

Accounts opened by post can be managed by post and by telephone.

The minimum deposit for a Notice Account is £1,000.

For deposits made by cheque, interest is calculated from the second banking day on which the cheque is credited to the account. Cheques are cleared in 2 banking days using the Image Clearing System. This system allows banks to clear a digital image of the cheque rather than the original paper cheque.

Account holders must be aged 18 or over and be UK resident for tax purposes.

The maximum amount that may be held by you with us across all products may not in aggregate exceed £1,000,000 but we may waive this limit at our absolute discretion.

Can I withdraw money?

Yes. 90 days’ notice is required.

Additional information

When you open an account, you have 10 working days to transfer any funds in to that account.  If, after 10 days, no funds have been received or the funds held in the account do not meet the minimum balance, then we will close the account and return any money held in the account.

All deposits in and out of your account must come from your nominated bank account, which you provide as part of the application process.

We will pay interest without tax deducted.  However, if the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HMRC. For more information visit www.gov.uk and search ‘Personal Savings Allowance’.

Glossary of Terms

*Gross
Is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. The payment can be made annually or monthly.

**AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded each year.

 

Protecting your money

Your eligible deposits with Hodge Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

Find out more

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 upYou 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 fundMost 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 ratesthe 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.