What is a notice account?

What is a notice account?

Ian Green (Director) gives expert video advice on: Do building societies offer more interest?; How do I know I am getting the best deal?; What is a savings bonus? and more...

In savings, a notice account is an account where there is normally a time period before you can take the money out. For example: thirty days, ninety days, and sixty days. With a notice account, you usually get a higher rate of interest for committing and saving your money for a longer time.