Yorkshire unveils new savings product

Yorkshire Building Society has unveiled its new account with competitive savings interest rates linked to inflation.

Its latest inflation linked Protected Capital Account offers customers seeking a yearly income an annual return, which will be either 1.5 per cent pa or the annual percentage change in the level of Retail Prices Index RPI, whichever is greater.

Alternatively, customers could opt for the full return upon maturity after six years, receiving a total savings interest rate of the greater of either 18 per cent 2.79 per cent AER or the percentage change in the level of the RPI over the term.

"The response to our previous PCA products has been very positive and we believe this is because many savers are concerned with the effect inflation is having on their investments," explained launch relationship manager Stephen Midgley.

Meanwhile, the Halifax has revealed that as women get older, they become more independent about their financial decisions.

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2011-05-31 13:11:28 © Moneyextra.com