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New tracker savings bond from Skipton

10th February 2012 Print

Skipton Building Society has launched a new edition of its popular bond which tracks the Bank of England Base Rate.

The Limited Edition Tracker Bond Issue 2 offers interest of Base Rate plus 2.85%, which is currently 3.35%, with the potential to go up in line with any increases imposed by the Bank of England.

Key Product Features - Limited Edition Tracker Bond Issue 2

Interest rate: Bank Base Rate plus 2.85%, currently 3.35% (monthly interest option: BBR plus 2.80%, currently 3.30%);
Available via national branch network and Skipton Direct telephone service centre;
Minimum opening deposit £500 and subsequent deposits of £1 upwards allowed until account becomes a closed issue;
Maximum deposit £50,000;
Product matures after 12 months into easy access account from range available at that time;
Sole and joint accounts available;
No withdrawals allowed during the product term;
Rate will decrease with any Base Rate fall.

Skipton's Head of Products, Kris Brewster, said: "We offered the first edition of this product towards the end of last year and it proved very popular among people who want to bag themselves a good rate with the added insurance that if the Base Rate increases, they won't lose out.

"We're really pleased to bring out a second edition of this account, which we think fills an important niche  among savers who might be unsure whether to lock away their funds due to the ongoing uncertainty surrounding interest rates."

For further information, visit