Yorkshire introduces new inflation linked account

Yorkshire Building Society has launched two new deposit accounts offering its customers some of the best savings rates on the market.

The Protected Capital Account is a five-year product linked to the retail price index RPI and has been made available in either an annual income or maturity return option.

Savers choosing the maturity return option will receive the percentage change in RPI over the five-year period plus 1.5 per cent.

Those who opt for the annual income are guaranteed an annual return of 0.1 per cent plus the annual change in RPI over the 12-month period.

Simon Broadley, Yorkshire's retail investment manager, said that with savings interest rates remaining low and inflation reaching high levels the society is keen to offer a product which allows money to maintain its true spending power.

He added that savers can be confident their savings will track inflation irrespective of what happens over the coming years.

Yorkshire Building Society recently launched a new online ISA through its Barnsley Building Society brand.
 

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2011-02-21 13:34:45 © Moneyextra.com