Close Savings launches new notice accounts

Close Savings, part of Close Brothers Group plc, has launched new 90 day and 120 day notice accounts paying an interest rate of 2.85 per cent AER and 2.95 per cent AER respectively.

Personal finance investing

Passive funds are an increasingly big part of the market




Research from Close Savings reveals that over three million people have a notice account and that almost one in 10 existing savers intends to open a notice account during the next 12 months.

It estimates that nationally there is currently £19.40 billion deposited in notice accounts.

Gail Johnson, senior marketing manager, Close Savings said, ‘In a low base rate environment savers are looking for places where they can earn decent returns on their deposits. Our research indicates that there will be greater demand for notice accounts, in particular, over the next 12 months.

‘These new notice accounts provide another avenue for savers looking to earn higher rates for cash they can deposit over the longer term.’

According to Close Savings, over eight million consumers intend to have more than £10,000 deposited in cash deposit accounts over the next 12 months and around 2.4 million savers expect to have more than £50,000 on deposit at any given time during this period.

With notice and fixed rate savings accounts offering some of the best interest rates available, Close Savings believes that these will be popular accounts.

Both the new variable rate notice accounts have minimum investments of £10,000 with interest paid quarterly. Applications received with funds for these new accounts will be accepted from Monday 1 February 2010.

To apply for the new Close Savings notice accounts, visit www.closesavings.co.uk or call 020 7392 1772.

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