Bradford & Bingley launches new notice accounts

Bradford & Bingley is bucking the current trend for instant access accounts and fixed rate bonds in the savings market with the launch of two market-leading notice accounts, paying up to 6.30% AER and ideal for savers who want to keep their savings at arms' length but retain the flexibility to access their money if they need to.

The savings provider has launched an online notice account and a postal notice account, both of which offer customers penalty-free access to their money after a notice period of 30 days and reward customers with a higher rate of interest the more they save.

Internet Saver Notice offers a great variable annual interest rate of 6.10% p.a. gross/AER to online savers with balances of between £1,000 and £49,999.99, with 6.20% p.a. gross/AER paid on balances of between £50,000 and £249,999.99, and 6.30% p.a. gross/AER paid on balances between £250,000 and £2,000,000.

A monthly interest rate option is available to savers who would like their interest to be credited on a more regular basis.

The account can be opened online at bradford-bingley.co.uk/savings.

In addition, the savings provider is also launching My Time Notice Saver, a postal account which pays a variable monthly interest rate of 5.94% p.a. gross (6.10% AER) on balances between £1,000 and £49,999.99, 6.03% p.a.gross (6.20% AER) on balances between £50,000 and £249,999.99, and 6.13% p.a. gross (6.30% AER) on balances between £250,000 and £2,000,000.

My Time Notice Saver can be opened by calling 0845 600 8885 or customers can pick up further details from any Bradford & Bingley branch.

Paul Whitlock, head of savings at Bradford & Bingley, said: "From our research, we discovered that there was a gap in the market for notice accounts, which have been largely overshadowed by the demand for instant access accounts and fixed rate bonds in recent years. However, there is a band of savers for whom having instant access to their hard-saved cash is too much of a temptation. Our market-leading notice accounts offer savers an even greater choice and are ideal for those looking for a highly competitive home for their money that offers them a haven from temptation.

"These new accounts also come with the added attraction of a higher rate of interest on higher balances, further rewarding savers for their dedication to putting their money away. By enhancing our savings proposition to offer notice accounts alongside our existing, highly competitive fixed rate bonds and easy access accounts, we believe we will be able to help even more customers find the most suitable home for their savings."