Skipton launches 4% savings rate

The account is available to anyone who has been a member of the Society since before 26 January 2014.

People can open the account with just £1 and make regular payments of up to a total of £250 per month. No withdrawals are allowed from the account during the 12 month account period, and only one account per customer can be opened. The Loyalty Regular Saver account is available in branch, through the post and via Skipton Direct, the Society’s Skipton based customer contact centre.

At the same time, the Society is also launching a branch exclusive 3% regular saver for members who don’t qualify for the Loyalty Regular Saver and for new customers. This account has the same features as detailed above, but pays a lower rate.

Ian Cornelius, Skipton’s Commercial Director said:

“We spend a great deal of time at Skipton listening to our members - from our customer panels, forums, online channels and through our popular branch and telephone teams. We’re very proud of the mutual engagement we have with our members and can directly attribute this to being labelled a ‘giant killer’ after outshining some of the UK’s top multinational companies for our customer excellence*.

“When we asked our members what we could do to reward their loyalty, they said they’d like us to offer higher savings rates. At the Society’s AGM I promised that we would make supporting our loyal members a priority. And I’m delighted that today, as a direct response to their feedback, we’re able to give them a special rate as a thank you for their continued membership.

“At 4%, our Loyalty Regular Saver is a very competitive account. Anyone who has had a mortgage or savings account with us since before 26 January 2014 can access this special account. Furthermore, we are offering a competitive 3% rate for new customers to encourage them to join our society.”