Yorkshire launches new fixed-rate bond

Yorkshire Building Society has launched a new three-year bond, offering its customers some of the most competitive savings interest rates on the market.

The new product, which offers savers a rate of four per cent, is available online or via the society's telephone banking service across all Yorkshire brands – Chelsea Building Society and Barnsley Building Society.

Yorkshire's new flexible product has been launched to track changes to the Financial Services Compensation Scheme FSCS compensation limit.

The new rules, which came into force on December 31st 2010, have increased the compensation limit received by savers who lose money when a bank or building society goes under to £85,000 from £50,000.

Savings product manager, Mike Helliwell, said: "This highly competitive bond has the added bonus of allowing flexibility following any changes to the FSCS limit.

"It is a unique product where our members can still take advantage of a great fixed term rate but know that they have the flexibility to withdraw funds if their limit is reduced."
 

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2011-01-04 15:09:54 © Moneyextra.com