New Online Bond Savings Account From Skipton

Skipton Building Society has a new online bond savings account, offering a competitive rate of 3.30%.

This new limited edition online savings account is a one year fixed rate bond that allows customers to invest between £500 and £1,000,000 (£2,000,000 for joint applications).

It follows in the footsteps of Skipton’s My Savings goal based savings range (2.50%), Telephone Saver (up to 2.25%) and Skipton’s recently launched range of E-Bonds (with rates from 2% to 4.1%, over terms of six months to five years).

With this new savings account, Skipton is reinforcing its commitment to offering consistent, long term good value products in which customers can invest their money with confidence.

As the savings bond expires, it matures directly into an online account called ‘My Loyalty Saver’ which currently offers customers an attractive interest rate of 2.25% AER.

Kris Brewster, Head of Products at Skipton, said: “This is yet another competitive and straightforward savings product from Skipton” and added “All of our products aim to make it easy for our customers to transact easily, in whatever way best suits them, while ensuring their money works as hard as possible.”

MoneyHighStreet comment: With this news from Skipton, and the fact that Nationwide has also recently increased the interest rates on selected savings accounts, perhaps at last there is a glimmer of hope for savers.

This being despite the Bank of England maintaining the Base Rate at O.5%, although of course an increasing number of economists believe interest rates will start rising sooner rather than later.