Skipton’s Special Saver is for life – not just for Christmas

For nearly a year now, Skipton Building Society’s Christmas Saver account has been helping Britons prepare for the cost of the festive season.

From today, however, they can also save for other special occasions – be it a holiday, wedding or buying a new car – with the Society’s new Special Saver account. With its interest rate of 7.55%, the Special Saver acts just like a regular savings account but has the added control for investors that they can’t touch their money for a full year.

John Goodfellow, chief executive of Skipton Building Society, commented, “When there’s something special you want, the most sensible way to afford it is to set up a regular savings account. But whilst it’s nice to see the balance grow month by month, it takes a lot of discipline not to dip into the account now and then for the odd splurge. However, our Special Saver is unlike regular savings accounts, in that you can’t touch the money for a year, so your funds are there in full when you need them – and with an interest rate of 7.55%, you’ll know you’ve made the most of your pennies in the meantime.”

Special Saver

Interest rate of 7.55%
Available from 29 October 2007 through Skipton’s 79 branches across the UK
Monthly investments to be made by cash, cheque, internal transfer from another Skipton account or by bank standing order
Minimum monthly investment £10, maximum monthly investment £250
Minimum opening investment £10, maximum opening investment £250
Maximum total investment £3,000 per annum
Withdrawals not allowed from date of opening for one full year, when the account will default to an Instant Access Account (currently 3.84% for the maximum investment of £3,000) for the customer to access their funds