Avoid spending temptation!
Building up a healthy savings balance for your short-term goals is a great habit to have.
This could be the money that you’re planning to spend on goals like a new car, your wedding or that holiday you’ve been dreaming of. The things that you’ll likely spend on in the next few years.
But where should you keep that money? This is where Moneybox’s Notice Saving Accounts come in, which have lots of advantages vs. the alternatives.
- Out of arm’s reach: The problem with saving in your current or instant access account is that it’s just too tempting to use the money. If you don’t put it out of arm’s reach it’s too easy to spend day to day, meaning you might never achieve your savings goals.
- Access to better rates: By agreeing to give notice before you withdraw your money, you can get better rates. Many high street bank instant access accounts are currently paying rates as low as 0.01%!* Typically the longer you’re willing to wait before accessing the money, the higher interest you’ll receive.
- All Moneybox’s great features: The best savings account is one that encourages you to save and with features like round-ups, Payday boost and Moneybox+, you can set and forget and start building a balance without really noticing.
Is a Moneybox savings account right for you? Check out our 45 day and 95 day notice accounts now. Remember you’ll need to give us notice to make a withdrawal.
*Representative interest rate: Barclays, First Direct, Halifax, HSBC, Lloyds, Nationwide, Natwest, RBS & Santander (September 2020)