Yorkshire Building Society launches 7% fixed rate savings bond

On Saturday 14th June Yorkshire Building Society is launching a new two year fixed rate savings bond paying a market leading rate of 7% gross per annum (5.60% net), with a monthly interest option available for those who rely on their savings for income.

The new, strictly limited, bond is available to new and existing customers who can choose to open their account either online, in any of the Society's 135 branches or by post. As with all Yorkshire's bonds a minimum deposit of just £100 is required to open the account with a maximum balance of £500,000, ensuring any level of saver can have access to this fantastic rate.

Customers who choose to open their bond online will be able to take advantage of Yorkshire's paperless application process, where actual signatures and identification documents are not required in most cases. Online savers are also able to deposit their funds into the e-bond electronically from their debit card, so they can earn interest more quickly than a traditional cheque deposited by post.

Tanya Jackson, spokesperson for Yorkshire Building Society said: "There have been some significant movements in the money markets, which has enabled us to offer this fantastic interest rate to savers. Many fixed rate bonds are available for just one year, but this new bond ensures savers are guaranteed of a great rate, and therefore peace of mind, for a longer period.

"The 7% rate is only available for a limited period and I would therefore urge savers to act quickly if they want get this market leading rate for their savings."

The new bond can be opened online at ybs.co.uk.