We’re always looking for ways to increase our savings and financial product knowledge.
We recently came across “Notice Savings” account from EQ Bank. This bank has been offering some decent interest rates and Notice is no different. Customers can get 4.5-5% interest on their earnings. Not bad!
So, what’s the difference from a regular high-interest savings account? Well, Notice requires you to give notice. (We see what you did there?). When you want to withdraw your money, you have to give either a 10- or 30-day notice before you withdraw. You earn 4.50% interest by giving a 10-day notice, or earn 5.00% by giving a 30-day notice.
Who’s this for? Anyone who wants to save and withdraw their money with no penalties. Think of it as the middle point between a HISA and a GIC.
Image: Pixabay
