Cash savings hub risks
Fixed term and notice savings accounts don’t provide you with instant access to your cash.
Fixed term accounts don’t allow you to access your savings until the end of your term. You’ll need to be comfortable that you can lock your money away for your chosen term.
Notice accounts require you to provide a set notice period before you can access your money and the interest rates on these accounts can change. The notice period for a reduction in the interest rate is the same length as the notice period for withdrawing monies. You need to be sure that you’re happy to wait to access your money.
Keep in mind that inflation may mean that your savings won’t go as far in the future.