Yorkshire launches new savings account

Thu, 24 Apr 2008

Anyone looking for internet savings accounts might want to look a new product being offered by Yorkshire Building Society .

The mutual has announced that it has launched a savings bond paying 6.2 per cent fixed for one year.

People will be able to take up the society's savings offer until May 31st.

David Jackson, Yorkshire's head of e-commerce, said: "Increasingly people value the flexibility offered by the internet and the convenience of managing their lifestyle at a time and place that suits them."

He added that every element of the new savings accounts can be accessed via the internet which he thinks should suit the demands on busy consumers.

The savings account can be opened with £100 and the maximum deposit is £500,000.

Earlier this week, Moneyfacts.co.uk warned that many instant access savings accounts charge a penalty when people withdraw money .

They advised consumers to check the small print as they could lose out on interest payments if they take out cash from such accounts.
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