Good news has been shared with savers as a particular method of saving is currently “flourishing”, however, experts are unsure how long this ameliorative effect will last. As a result, Britons are being urged to act with speed in order to achieve the best deals.
For some, the length of the notice period will be important, and thus the wide range of notice accounts is likely to work in their favour to help them choose a time period to suit them.
Others will focus less on this, and more on the interest rate they can actually achieve. In this sense, locking away money for a longer period of time could potentially be more advantageous.
This does not necessarily have to be the case, though, as Recognise Bank’s 95 Day account currently has a gross rate at £10,000 of 1.10 percent, while 120 day accounts offered by Oxbury Bank, OakNorth Bank, DF Capital and Charter Savings Bank have a slightly lower interest rate.
Distribution Finance Capital Holdings plc (LON:DFCH) is UK specialist commercial lending and personal savings bank. From straightforward savings to practical finance solutions, our aim is to help customers manage and grow their business or savings. Founded as a specialist commercial lender in 2016, DF Capital was authorised as a bank in September 2020.