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Yorkshire Constructing Society offers ‘market-leading’ rate on ‘excellent’ savings account | Personal Finance | Finance


Yorkshire Constructing Society’s three-year Fixed Rate ISA account was highlighted as a “Pick of the Week” by MoneyFacts.co.uk this week. The account’s rate of interest is fixed at 3.5 percent until October 31, 2025 and the interest is calculated day by day on the cleared balances. Interest is paid annually, with the following interest payment dates being October 31 in 2023, 2024 and 2025.

Yorkshire Constructing Society states if an individual deposits £1,000 when opening the account then at the top of the fixed term they are going to have earned £112.93 in interest.

On maturity, the balance will probably be robotically transferred into an Online fast access ISA.

People may also have the choice to transfer the balance into one other Fixed Rate eISA with Yorkshire Constructing Society without having to reapply.

People can open the account with just £100 and the utmost investment someone could make is £20,000 which is the ISA Allowance for 2022-23.

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People can nonetheless include previous years’ ISA transfers of their maximum balance.

The ISAs permitted to be transferred into the account include Money or Stocks and Shares ISAs, Money and Stocks and Shares LISAs and Revolutionary Finance ISAs.

Yorkshire Constructing Society also permits multiple deposits into the ISA until the product is withdrawn from sale.

The account may be managed online so persons are able to examine their balance, rate of interest, and make and examine transactions each time they need.


Circumstances included under this rule are things reminiscent of critical or terminal illness, death, redundancy, nursing home or elderly care costs, divorce or court orders.

Yorkshire Constructing Society states the closure of the account for a circumstance under the Savings Pledge 2022 won’t face a lack of interest penalty.

To open an account, people will must be over the age of 16 years and a UK resident for tax purposes.

The ISA may be opened online through Yorkshire Constructing Society’s website or through the post.


Eleanor Williams, finance expert at Moneyfacts.co.uk, said: “Yorkshire Constructing Society has made some notable rate increases of as much as 1.30 percent across its range of fixed rate bonds and ISAs this week.

“Savers yet to make use of their tax-free savings allowance and who’re blissful to secure their nest egg away for a specified period may be enticed by the updated Fixed Rate Money e-ISA until October 31, 2025.

“Now paying a currently market-leading return of three.50 percent gross, savers could also be further tempted by the proven fact that earlier access to funds, subject to account closure and a lack of interest penalty, is permitted, and there may be also the choice to make further additions whilst the problem stays open.

“Overall, this ISA earns an Excellent Moneyfacts product rating.


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