Notice Accounts
Investors in these Notice Accounts can get their money back after the expiry of the "notice to withdraw" period.
| Institution | Account | Interest Rate (AER) | Notice to Withdraw | Min/Max | Net Interest on £10,000 | Details |
|---|---|---|---|---|---|---|
| Coventry Building Society | Sixty-Plus 60 Day Notice Account(3)(1) | 6.35% | 60 days | £10,000 / £250,000 | £508.00 |    |
| Turkish Bank(UK) Ltd | 60 Day Notice Account(2) | 6.32% | 60 days | £1,000 / £250,000 | £505.60 | |
| Nottingham Building Society | Postal Tracker 60 - Issue 5(3) | 6.30% | 60 days | £1,000 / £250,000 | £504.00 | |
| Heritable Bank | 90 Day(Issue 6)(4) | 6.25% | 90 days | £1,000 / £1,000,000 | £500.00 | |
| Anglo Irish Bank | 7 Day Notice(5) | 6.15% | 7 days | £500 / £1,000,000 | £492.00 | |
- Covered by the Scheme
- Variable Rate
- Paid Annually
Important Notes
- (1) Includes bonus of 0.6% for first year
- (2) Rate guaranteed at least to match base rate plus 0.25% until 31/12/2007.
- (3) Guaranteed to be Base + 0.35% until 1 August 2008, then +.20% until 1 August 2009
- (4) Rate guaranteed at least to match base rate until 1/1/2009
- (5) Rate guaranteed at least to match base rate until 1/1/2008.
What is the Scheme?
The Financial Services Compensation Scheme was established under the Financial Services and Market Act 2000. The Scheme affords 100% protection to the first £2000 of a depositor's total deposits with the Institution and 90% of the next £33,000 amounting to a maximum payout of £31,700.
What is AER?
This is the Annual Equivalent Rate and specifies what the interest rate would be if interest were paid and added to the Account once a year. As every Institution which quotes an interest rate must include an AER, we are comparing like with like.
Why is Net interest quoted?
Institutions will pay interest net of Income Tax at the statutory rate (currently 20%), unless you advise them you are not liable to Income Tax and complete the appropriate Inland Revenue form.