Notice savings accounts

With a notice savings account, the interest you earn will have the condition that you give the bank or building society a certain amount of notice before you make any withdrawals. In return, you'll earn interest at the advertised rate, paid either monthly or annually - depending on the account. You may not be able to access your money before giving the right amount of notice, or you could lose interest accrued as a penalty.

There’s no limit to the number of notice savings accounts you can have. You should be aware of the Financial Services Compensation Scheme limit of £85,000 as anything above that won’t be returned if there’s a problem with the bank you’re using. This limit applies to banking groups and not savings accounts, so you should make sure you aren’t saving more than £85,000 with a single group.

We won’t charge you for using the marketplace. Instead, we receive payments from the partner banks based on the amount of money deposited through Aviva Save. The savings accounts and interest rates offered directly by our partner banks may be different from the ones you see on Aviva Save.

Which account you choose will depend on the rate of interest you want balanced with how much notice you’re happy to give on any money you take out. You can use those yardsticks to find an account that suits you.

It only takes a few minutes to register for Aviva Save. You just need to be over 18 and a UK resident. We’ll also need some details like your bank account and National Insurance number. Keep an eye on your inbox just in case we need more information, and for confirmation that your registration is complete. Once that's done, you can move money from your bank to your holding account. You then choose the savings account and deposit that suits you best, and apply. We'll send you a security code, via text, to complete the process. Your money will then transfer straight to your savings account.

It depends on the type of account you have. Some accounts pay out interest monthly and others pay out yearly. You can find when interest is paid by going to your account details through the marketplace.

Not sure which savings accounts are right for you? Learn more about the different types of savings accounts available on our Aviva Save marketplace.

If you're a UK basic rate taxpayer, you can usually earn up to £1,000 a year tax-free on your savings, known as a Personal Savings Allowance. If you're a higher rate taxpayer, the tax-free amount is up to £500. If you are an additional rate taxpayer, you don’t get a Personal Savings Allowance. If your interest goes above your Personal Savings Allowance, it will be added to your income and taxed at the rate that applies to you. Taxation depends on your personal circumstances and rules may change in the future. To get the latest information on tax on savings interest, you can visit HMRC.