The complete guide to notice savings accounts

Notice savings accounts let you earn interest while maintaining control over when you withdraw. You agree to give a set number of days’ notice before accessing funds, offering structure without the commitment of locking your money away. They’re ideal for savers who can plan ahead but still want flexibility.

In this guide, we’ll explain how notice and tracker notice accounts work, who they’re best for, and how to choose between them. You’ll also discover the different notice savings options available at OakNorth, including our 35, 90, 120 and 95-day (tracker) accounts.

A notice account is a UK savings account that pays interest in exchange for a commitment to give notice before making withdrawals. The notice period, often 30, 60, 90 days or more, begins once you request to withdraw funds. When the period ends, your money becomes available.

Notice accounts are designed for funds you won’t need immediately but want to access with some planning. They offer an effective balance between flexibility and discipline. With a notice savings account, you can earn a higher rate than most easy access options because you agree to wait before withdrawing, helping you earn more without locking up your money.

They’re a good fit for:

• Home improvements or renovation projects
• Upcoming tax payments or school fees
• Short-to-medium-term savings goals
• Building a habit of regular, planned saving

You can usually make deposits at any time, and the interest rate is variable, meaning it may change in line with your provider’s terms.

Opening and managing a notice account is straightforward:

1. Open an account online or via app – most banks offer paperless sign-up.
2. Deposit funds – initial deposits may start from as little as £1, depending on the provider.
3. Earn interest – interest is usually calculated daily and paid monthly or annually.
4. Submit notice – when you want to withdraw, give notice (e.g., 35, 90, or 120 days).
5. Receive funds – once the notice period ends, your money is paid to your nominated account.

Pro tip: You can often have multiple active notices for partial withdrawals, giving you flexibility when planning your finances.

Standard notice accounts

• Variable interest rate set by your provider.
• Rate may change over time based on market conditions.
• Typically higher rates than easy access accounts due to limited access.
• Providers may adjust rates as economic conditions shift.

Tracker notice accounts

• Rate moves with Bank of England Base Rate, plus or minus a spread (the rate that we add or subtract from the Bank of England base rate).
• When the base rate rises, your rate increases; if it falls, your rate decreases.
• Transparent and responsive to market changes.

Example: If the base rate is 4.00% and your spread is 0.1%, you’ll earn 4.10% interest. Or if the base rate is 4.00% and your spread is – 0.1%, you’ll earn 3.90% interest.

Pro tip: Tracker accounts can help ensure your savings remain competitive without needing to switch accounts when base rates change.

Notice accounts are ideal for UK savers who can plan ahead and don’t need instant access to their money. They’re suitable for:

• Planners – managing known expenses such as tax bills, insurance renewals or school fees.
• Home improvers – saving for projects or renovations over several months.
• Disciplined savers – who want to reduce the temptation to dip into savings impulsively.
• Those managing medium-term goals – balancing accessibility with structure.

For those who like structure and rate transparency, OakNorth’s Notice Base Rate Tracker could be a good fit.

Use notice-based savings strategically:

• Plan ahead – match your notice period to when you’ll need funds.
• Set reminders – submit your withdrawal notice early so your money is ready on time.
• Diversify access – keep your emergency fund in an easy access account, and use notice accounts for planned goals.
• Automate deposits – regular transfers can help you grow savings steadily.
• Track rate movements – understand how changes in the base rate may affect your tracker return.
• Combine accounts – many savers use a mix of notice and tracker accounts to balance flexibility and growth potential.

Pro tip: Review your savings strategy every few months to make sure your chosen notice period still aligns with your upcoming goals.

Standard notice accounts

• Often offer higher rates than easy access accounts.
• Clear access rules based on your chosen notice period.
• Help build savings discipline by preventing instant withdrawals.
• Flexible top-ups and multiple withdrawal notices.

Tracker notice accounts

• Benefit when the Bank of England Base Rate rises.
• Transparent rate calculation (base rate ± spread).
• Same structured access with a fixed notice period (e.g., 95 days).
• Automatically adjusts to market conditions.

Standard notice accounts

• No early access – you must wait for the full notice period*.
• Variable rate can change at the provider’s discretion.
• May not always keep up with changes to the base rate.

Tracker notice accounts

• Rate will fall if the Bank of England Base Rate decreases.
• Returns are variable and less predictable.
• Still requires notice to access funds.

*Exceptional circumstances may apply, see terms and conditions for full details.

We offer three standard notice accounts designed for planned goals and disciplined saving. Key details:

• Notice periods: 35, 90 or 120 days.
• Rate type: Variable, set by OakNorth (rates can change over time).
• Rate Change Protection: At OakNorth, the same notice period applies to any reduction to your spread (which reduces the interest rate). OakNorth always provides the full notice period in addition to at least 14 calendar days before any reduction, ensuring fairness and transparency. 
• Access: Submit notice and withdraw once the period ends (no early withdrawals*); multiple notices can run at the same time for partial withdrawals.
• Payments in: Usually allowed while a notice is running (see account terms and conditions for details).
• Minimum to open: £1.
• Balance limits: Up to £500,000 across all your OakNorth savings (limits apply).
• Account type: Joint accounts available (apply via website).
• Withdrawals: Unlimited, subject to notice. Please note that once a withdrawal request has been made, it cannot be amended, only cancelled.
• Interest: Calculated daily; applied monthly.
• Protection: FSCS protection up to £85,000 per eligible person.

These accounts suit savers with clear timeframes for their goals, whether planning for school fees, home improvements, or large annual payments. They help encourage structure and discourage impulse withdrawals while keeping funds accessible with notice.

*Exceptional circumstances may apply, see terms and conditions for full details.

Prefer a rate that moves with the market? Our Notice Base Rate Tracker offers the same notice-based access with a variable rate that tracks the Bank of England Base Rate.

• Notice period: 95 days.
• Rate type: Variable, tracking the Bank of England Base Rate ± a spread. When the base rate rises, your rate increases; when it falls, your rate decreases.
• Rate Change Protection: At OakNorth, the same notice period applies to any reduction to your spread (which reduces the interest rate). OakNorth always provides the full notice period in addition to at least 14 calendar days before any reduction, ensuring fairness and transparency. 
• Access: Give notice; no early withdrawals.
• Minimum to open: £1.
• Balance limits: Same overall limits as OakNorth savings (up to £500,000; limits apply).
• Account type: Sole applicants only (no joint accounts).
• Withdrawals: Unlimited, subject to notice. Please note that once a withdrawal request has been made, it cannot be amended, only cancelled.
• Transfers: You can transfer between a standard Notice and the Tracker Notice; transfers complete after the relevant notice period.
• Interest: Calculated daily; applied monthly.
• Protection: FSCS protection up to £85,000 per eligible person.

This account is suited to UK savers who want a transparent rate that adjusts automatically with the base rate, offering upside when the interest rates rise while maintaining structured access.

*Exceptional circumstances may apply, see terms and conditions for full details.

Note: At OakNorth, the same notice period applies to any reduction to your spread (which reduces the interest rate). OakNorth always provides the full notice period in addition to at least 14 calendar days before any reduction, ensuring fairness and transparency. 

*Exceptional circumstances may apply, see terms and conditions for full details.

A mix of accounts can help balance flexibility and growth. Consider how notice savings accounts fit within your wider savings plan:

• Short-term goals (0–3 months): Keep funds in an easy access account for immediate use.
• Medium-term goals (3–12 months): Use notice or tracker notice accounts to earn more while maintaining access with planning.
• Long-term goals (1+ years): Combine notice savings with fixed-term accounts for predictability and higher rates.

Pro tip: Review base rate trends and your personal timelines regularly, adjusting notice periods or transferring between accounts can help optimise returns.

OakNorth offers a range of notice savings accounts, including our Notice Base Rate Tracker, that combine structure, flexibility and transparent returns.

You’ll benefit from:

• A choice of 35, 90, 120, or 95-day notice periods (specific notice periods depend on the account selected). The same notice period applies to any reduction to your spread (which reduces the interest rate). OakNorth always provides the full notice period in addition to at least 14 calendar days before any reduction, ensuring fairness and transparency. 
• FSCS protection up to £85,000 per eligible person.
• Transparent, variable rates that track the Bank of England Base Rate for the tracker option.
• Simple digital account management.
• A UK regulated, secure savings experience.

Whether you’re saving for a planned purchase or simply managing your money more efficiently, OakNorth’s notice and base rate tracker notice accounts give you a balance of flexibility and potential growth.

Q: What is a tracker notice account?
A: It’s a savings account where you give notice before withdrawing, and the rate tracks the Bank of England Base Rate (± a spread). OakNorth’s Notice Base Rate Tracker has a 95-day notice period.

Q: What notice periods does OakNorth offer? 
A: 35, 90 and 120 days for standard notice accounts, and 95 days for the Notice Base Rate Tracker. This applies to any withdrawals you request as well as any reductions to your interest rate or spread we apply.  

Q: How does a tracker notice account differ from a standard notice account?
A: Access works the same (you give notice, then withdraw). The difference is in the rate: standard notice rates are variable at the provider’s discretion, while tracker rates move with the Bank of England Base Rate.

Q: Who is OakNorth’s Notice Base Rate Tracker account for?
A: UK savers who can plan around a 95-day notice and are comfortable that the rate can rise or fall with the base rate.

Q: Can I add money while I’m serving notice?
A: Yes, you can usually continue to deposit funds while a notice is active (check account terms).

Q: Can I withdraw early?
A: No – withdrawals are only available once the full notice period has passed. Exceptional circumstances may apply, see terms and conditions for full details.

Q: When does the notice period start?
A: On the day you submit your withdrawal notice.

Q: Can I make partial or multiple withdrawals?
A: Yes – each withdrawal requires its own notice, allowing flexibility across your balance.

Q: Can I hold both a standard notice and a tracker notice account?
A: Yes. You can hold both and transfer between them; transfers complete after the relevant notice period.

Q: Will my tracker rate go down if the Bank of England Base Rate falls?
A: Yes – your rate moves in line with changes to the base rate, rising or falling as it changes.

Q: Are tracker notice accounts available as joint accounts with OakNorth?
A: OakNorth’s Notice Base Rate Tracker is for sole applicants only. Standard Notice accounts support joint applications.

Q: Are OakNorth savings FSCS protected?
A: Yes – up to £85,000 per eligible person under the UK FSCS (limits and eligibility apply).

Q: How do I decide which account is right for me?
A: The right account will depend on what’s most important to you. Our standard Notice Accounts have great flexibility with a 30, 90 or 120-day notice periods, whilst offering a structured way to save while still allowing access after your chosen notice period. The Notice Base Rate Tracker offers a 95-day notice period, but benefits from returns that move in line with the Bank of England Base Rate, providing transparency and a market-linked rate.

This guide is for general information only and doesn’t constitute financial advice. For live rates, eligibility and full terms, please check the relevant product pages and documents.