Yorkshire Building Society launches new savings account and increases interest rate on easy access option
Yorkshire Building Society has improved the interest rate on an easy access savings account
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Yorkshire Building Society has today announced new and improved interest rates on two savings accounts.
The building society’s new Loyalty Six Access Saver will pay a variable interest rate of 5.10 per cent.
Customers can deposit between £1 and £100,000 in this account.
The account allows money to be withdrawn on up to six occasions throughout the year without penalty, or if the customer closes the account.
Yorkshire Building Society can deposit between £1 and £100,000 in the Loyalty Six Access Saver
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It is available to members who either save or have a mortgage with the building society.
Yorkshire Building Society has also increased the interest rate on its Internet Saver Plus Issue 13 to 4.80 per cent, which was previously offering 4.45 per cent.
This account allows customers to access their savings on an easy access basis.
It is available to new and existing customers who want to save with the building society.
Customers with an existing Internet Saver Plus Issue 13 will be able to get the improved interest rate without having to do anything.
Chris Irwin, director of savings at Yorkshire Building Society, said: “We’re really proud that our latest Loyalty Six Access Saver account not only further demonstrates our investment in our members but also allows them to benefit from a competitive return on their money for a year, whilst allowing access to their funds throughout the year.
“We also hope the latest increase to our Internet Saver continues to show our commitment to delivering value to our members.
"We try very hard to offer our members competitive rates on their savings, maintaining an average interest rate on our accounts which has been consistently higher than the market to reward their loyalty and in turn support their financial resilience.”
LATEST DEVELOPMENTS:
The Bank of England base rate has been held at 5.25 per cent following 14 consecutive rate hikes
GB NEWS
Banks and building societies have been increasing interest rate offerings of late, following 14 consecutive base rate rises.
The Bank of England base rate was held at 5.25 per cent for the first time in almost two years last month.
Among the improved interest rates available on savings accounts is Coventry Building Society's new ‘top rate’ account.
Their Triple Access Saver (Online) was launched last week and it boasts an interest rate of 5.20 per cent.