5th November 2015
With lots of speculation over when interest rates will finally start to rise again, Skipton Building Society has re-launched its Special Edition Tracker savings account, a product that it last offered in 2012.
The account, which pays 1.2% can be opened for just £1 up to a maximum investment of £10,000 and is guaranteed to track bank base rate + 0.7% – so if interest rates do rise during the next 12 months, customers with the tracker will receive the benefit.
That account is available in branch and via the post. Customers can also pay in and withdraw from the account as often as they like.
Kris Brewster, Skipton’s head of products, said: “With so much talk of a possible base rate rise next year, and with so few tracker savings accounts out there – we have decided to offer our customers something different to a fixed rate savings account.
“But we know how important it is to people to have flexibility with their savings. So people can pay into and withdraw from this account, as well as have a bit of a flutter on seeing if bank base rate will rise over the next 12 months.”
“Interest rates rising is a topic that’s certainly got our customers across the country talking. Bank base rate has been at a historic low since 2009, and the conversation is certainly heating up on when this might change.”