Skipton Building Society 

Skipton changes rates on bonds and Isas

Skipton changes rates on bonds and Isas

Skipton Building Society has increased the interest rates offered on its fixed rate bonds and Isas by up to 0.16 percentage points.

Rates on the society’s one, two, three and five-year bonds, now offer 1.36 per cent, 1.56 per cent, 1.76 per cent, and 2.05 per cent, respectively.

Skipton’s new fixed rate Isa range includes a one-year Isa at 1.36 per cent, two-year at 1.56 per cent, three-year Isa at 1.76 per cent, and a five-year Isa at 2.05 per cent.

Isa accounts can be opened online, in branch or by post from today (February 7).

Kris Brewster, Skipton’s director of products, said: "Our fixed rate Isas and bonds continue to reflect Skipton’s commitment to offering consistent, long term good value products with exceptional customer service.

"We’ve been helping people to save since 1853 and the combination of simplicity and attractive fixed rates means customers can invest their money with confidence. We want all people to feel like they’re in a good place with their savings."

Customers can deposit the annual limit of £20,000 into Skipton’s fixed rate Isas but they require a minimum opening balance of £500.

The society's fixed rate bonds also come with a £500 minimum investment for each account - up to a maximum of £1,000,000 or £2,000,000 for joint accounts.  No withdrawals or closures are allowed until maturity. 

Keith Churchouse, chartered financial planner at Guildford-based Chapters Financial, said: "It is good to see the increase in customer rates from Skipton Building Society for these products.

"In market terms, they are not as competitive as others online, but they are a high street name that some consumers would prefer to use."

aamina.zafar@ft.com