Yorkshire launches monthly saving

07 March 2006
Yorkshire Building Society has added a monthly interest option to its instant access Yorkshire Internet Saver account, launched in July last year.

Having taken on board comments from customers, the savings account can now attract interest at a monthly rate of 4.60 per cent gross pa/4.70 per cent AER.

This compares with the current interest rate of 4.70 per cent gross pa/AER.

Customers are also guaranteed that the interest rate will not drop below the Bank of England base rate (currently 4.5 per cent) before the end of February next year.

The convenience of online banking can be combined with a cash card for access to £250 from cash machines, while a £1 minimum balance means anyone can start saving regardless of income level.

Chris Edwards, head of mortgages and savings, said: "We regularly ask our members for feedback on the products and services we provide.

"The introduction of a monthly interest option on the Internet Saver account is as a direct result of this feedback and…is likely to be very appealing to those who rely on their savings for income."

To read more about savings accounts, click here.

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