Yorkshire Building Society is now offering three new accounts, giving savers a chance to get more for their money the longer they lock it away.
Following 13 consecutive base rate rises from the Bank of England, high street banks and building societies have also increased some rates across their savings account to remain competitive.
The new accounts launched include a two-year fixed rate cash ISA account with an interest rate of 5.20 percent tax free/AER.
This is available from YBS branches and agencies, by post or online.
The tax-free account can be opened by anyone aged 16 years or older, with an opening balance of £100, transfers-in are allowed and interest payable annually.
If someone deposited £1,000 into the account, at the end of the fixed term, the balance would be £1,115.22.
Interest earned from the ISA is tax-free and does not contribute to one’s Personal Savings Allowance.
Other accounts that have launched include:
Fixed Rate ISAs
- 5.10 percent one-year fixed rate ISA in branches, agencies, post and online
- 5.20 percent three-year fixed rate ISA in branches, agencies, post and online
All of the accounts mature on the August 31 in each year.
Chris Irwin, director of savings at Yorkshire Building Society, said: “We always strive to offer our members competitive rates on their savings, combined with a varying range of accounts to suit different saving needs.
“These new accounts give savers security with a guaranteed, competitive interest rate which isn’t going to change for the duration of the account.
“These new ISA accounts will complement the range of other savings accounts we offer.”
For more information on YBS savings accounts, customers can visit their local branch or agency.
Alternatively they can call 0345 1200 100 or visit www.ybs.co.uk.
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