Skipton Building Society has launched a 4 per cent savings account for “loyal” members.
Ian Cornelius, commercial director for Skipton, said: “At the society’s annual general meeting I promised that we would make supporting our loyal members a priority.
“Anyone who has had a mortgage or savings account with us since before 26 January 2014 can access this special account.”
Key features:
• People can open the account with £1 and make payments of up to £250 each month.
• Withdrawals are not allowed during the 12-month account period, and a customer can only open one account
IFA verdict:
Jeremy Edwards, IFA for Leicestershire-based Bankfield Financial Advisers, said: “This is not a bad rate to have for 12 months, but like every account it comes with a catch, in that you cannot make withdrawals.”
