Yorkshire launches savings account paying 3.50%

Yorkshire Building Society is launching a 2010 Christmas Saver account paying a fixed interest rate of 3.50% gross/AER, aimed at helping people spread the cost of next year's festive season. 

Savers can put away up to £1,200 throughout the year, until the account matures at the end of December 2010. The branch-based and postal account allows savers to make regular monthly savings to build up a fund which they can access throughout December - just when it's needed.

Iain Cornish, Chief Executive at the Society said: "Whilst I'm sure next Christmas is the last thing on people's mind, there's no better time than the present to start saving. A small amount put away each month from now will help ease the financial burden during next year's festivities.  With the new Christmas Saver account our savers can be assured that their money will be working hard throughout the year until it's time to hit the shops."

Members who open the Christmas Saver will find it a flexible account, designed to make saving for the festive season simple and hassle free:

You can open your account with as little as £10

You can invest up to £1,200 in the year as and when you choose to

There is no minimum monthly investment required and no penalty for months when you choose not to save

You can choose to make as many payments in as you like, providing you do not exceed the maximum total amount of £1,200

Payments by cash, cheque or standing order are accepted

Instant access to your money from 1st December 2010

A Barnsley Building Society version of this product is available through Barnsley branches and by post with the same interest rate and similar terms.