Yorkshire Building Society launches ‘competitive’ 4.2% interest savings account | Personal Finance | Finance
Yorkshire Building Society has launched a new savings account offering a competitive 4.20% interest rate. The lender announced the Triple Access eSaver on Thursday, May 14, describing it as a savings account “designed to offer competitive returns while encouraging savers to keep their money growing.” The new Triple Access eSaver features a 4.20% gross AER variable interest rate and allows customers to open an account with just £1, with deposits up to £500,000 permitted.
The online account is designed for customers who prefer managing their savings digitally through online banking or the Yorkshire Building Society mobile app. Yorkshire Building Society said the account encourages longer-term saving habits while still allowing limited access to funds.
Customers can make withdrawals on any three days within a 12-month period, with the added option to close the account entirely if needed. At the end of the one-year term, balances are automatically transferred into an online easy access savings account.
Tina Hughes, director of savings at Yorkshire Building Society, said: “Many savers are looking for a balance between competitive rates and access to their money.
“The Triple Access eSaver has been designed to do just that — rewarding those who leave their savings to grow, while still offering some flexibility when life happens.
“As a member‑owned organisation, we continue to focus on straightforward products that help people build good savings habits.”
Rachel Springall, finance expert at Moneyfacts, said: “Whether starting small, or having a sizeable savings goal in mind, the new Triple Access eSaver from Yorkshire Building Society is a highly attractive choice.
“Unlike other accounts in its sector, this offer does not carry a bonus, plus the 4.20% AER is payable on large deposits of up to £500,000.
“Building societies work incredibly hard to offer competitive accounts to their customers, so offering an inflation-busting rate is always great to see.”
Yorkshire Building Society is the UK’s seventh-largest mortgage lender, with assets of £66.3 billion and 3.1 million customers across the YBS Group. Its brands include Chelsea Building Society and Norwich & Peterborough Building Society, both trading names of Yorkshire Building Society. The group’s subsidiaries also include Accord Mortgages Limited.
