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When you compare savings accounts on the site, look out for the new FirstSave Notice Savings Account which offers up to 3.50% AER on your account balance.

There are two types of FirstSave Notice accounts. One offers 3.00% AER and requires you to give 30 days’ notice to withdraw funds. The other has a notice period of 90 days but offers 3.50% AER.

As these are notice savings accounts, they are ideal for savers who do not need to access their money immediately.

Also, there are different conditions to be met depending on when you would like to receive your interest. If you’d like to receive interest yearly, you will need at least £100 in your account. However, if you want to receive your interest on a monthly basis, you will need a minimum balance of £5,000.

A great thing about this savings account is that it guarantees to pay an AER of at least 0.25% above the Bank of England Base rate (on balances over £100) until 1 January 2010. After this date it guarantees that the AER will not fall below the Bank of England Base Rate until 1 January 2012.

Plus, you will be able to manage your account online.

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3:37 pm | Categories: Money, New Products, Savings Accounts
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