Notice accounts 'could help savers'

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Notice accounts 'could help savers'

Tue 4th May 2010

Consumers who are looking to make the most of their savings could consider trying a notice account, it has been stated.

Anticipating a rise in interest rates in the next 12 months, Moneysupermarket.com advised savers to consider looking into accounts, as they offer a "third way" from fixed rate bonds and easy access accounts.

The products often have a high rate of interest, with the top paying notice account currently paying out 3.25 per cent, which is the same as the best one-year fixed rate.

If rates do pick up, consumers are able to take the money out of the account and reinvest it elsewhere, as well as if they think they may need the cash for another reason.

The price comparison site also reminded consumers of the importance of moving their debt elsewhere once the zero per cent interest rate expires, as they could end up paying a high rate on their loan.

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