Allica Bank launches 95-day notice account for personal savers
- 06.07.2020 11:15 am
Allica Bank – the business bank that seeks to empower small and medium sized businesses – has today announced the launch of a 95-day notice account for personal savers. It will offer a variable rate of interest, which currently sits at 1.10% AER.
Accounts can be opened online with a minimum deposit of £1,000 and a limit of £250,000. They will also be protected by the Financial Services Compensation Scheme on up to £85,000. Savers can then manage their account through the bank’s internet banking platform and secure messaging service.
The new notice account follows the launch of Allica Bank’s first savings accounts for personal savers and small businesses just weeks ago, allowing both 12 month and 24 month fixed-term deposits. This notice account is the latest in a suite of new products that are set to be launched by Allica Bank in 2020.
Lawrence Holland, Head of Deposits, Allica Bank, said:
“With the Bank of England base rate at a record low and the prolonged feeling of social and economic uncertainty caused by COVID-19, many savers have found themselves stuck between wanting to get a good return on their cash and maintaining flexibility over their money. Allica Bank is proud to offer this 95-day notice account for those savers who wish to benefit from a higher return on their savings, without having to lock away their funds for an extended period.”
Mark Stephens, CEO of Allica Bank, said:
“For us, banking is about building long-term and meaningful relationships with our customers, while providing helpful and innovative solutions to their needs. We believe our new notice account proposition does exactly that, offering savers a heightened rate on their savings, coupled with the flexibility of access they may need during these challenging times.”