New 1.20% easy access rate | moneyfacts.co.uk

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MONEYFACTS ARCHIVE. This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Derin Clark

Derin Clark

Online Reporter
Published: 15/09/2020

Today Skipton Building Society has increased the rate on its easy access account resulting in it paying a chart-topping rate of 1.20% gross on anniversary. 

Savers should be aware that the Skipton Building Society’s Online Bonus Saver Issue 7 at a rate of 1.20% includes a 0.50% bonus for 12 months. To open the account just £1 minimum deposit is needed. It allows unlimited further additions and withdrawals can be made at any time. This account can only be opened and managed online.

Start of easy access rates rise?

This new rate from Skipton Building Society will be welcome news to many savers who have seen easy access rates fall throughout 2020. The rate is 0.05% higher than the next easy access gross rate of 1.15%, which is being offered by National Savings & Investments on its Income Bonds.

While other savings providers could follow Skipton Building Society’s lead and launch new chart-topping rates or increase rates, during the current economic climate this is not guaranteed so savers should act quickly to avoid missing out on this top rate.

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