Skipton launches new fixed rate bonds and Isas

10th September 2014

Skipton Building Society has launched a new range of fixed rate Isas and bonds with rates increasing by up to 0.25%.

The two year fixed rate Isa rises to 2.00% while the rate has increased on two, three and five year fixed rate bonds which are now paying 2.00%, 2.30% and 3.00%, respectively. The building society is also launching increased E-Bond rates with a 2 year bond at 2.05% and a 3 year at 2.35%.

Skipton’s new Fixed Rate ISAs, which now have an annual limit of £15,000 can be opened either online or in branch. The five year ISA is still paying 2.75%.

The new range has Anniversary end dates, meaning these products will last for an exact term (e.g. one year), instead of having a fixed end date.

Full details of Skipton’s new Fixed Rate ISA range are:

Key product details –Fixed Rate Cash ISA

1 Year Fixed Rate Cash ISA Annual Interest Option  1.45% tax free pa/AER
Monthly Interest Option  1.44% tax free pa/1.50% AER
2 Year Fixed Rate Cash ISA Annual Interest Option  2.00% tax free pa/AER
Monthly Interest Option  1.98% tax free pa/1.80% AER
3 Year Fixed Rate Cash ISA Annual Interest Option  2.15% tax free pa/AER
Monthly Interest Option  2.13% tax free pa/2.20% AER
5 Year Fixed Rate Cash ISA Annual Interest Option  2.75% tax free pa/AER
Monthly Interest Option  2.72% tax free pa/2.75% AER

The Society’s Fixed Rate Bonds and E-Bonds offer customers the chance to benefit from competitive returns over terms of one, two, three or five years. The minimum investment for each account is £500, up to a maximum of £1,000,000 (or £2,000,000 for joint accounts). Full details of Skipton’s new Fixed Rate Bond range are:

Key product details – Fixed Rate Bonds

Bond Term Balance Tiers Annual Interest Option Monthly Interest Option
1 Year Fixed Rate Bond £500 plus (no tiers apply)  1.45% Gross pa/ AER  1.44% Gross pa/ 1.45% AER
2 Year Fixed Rate Bond £500 plus (no tiers apply)  2.00% Gross pa/ AER  1.98% Gross pa/ 2.00% AER
3 Year Fixed Rate Bond £500 plus (no tiers apply)  2.30% Gross pa/ AER  2.28% Gross pa/ 2.30% AER
5 Year Fixed Rate Bond £500 plus (no tiers apply)  3.00% Gross pa/ AER  2.96% Gross pa/ 3.00% AER

Full details of Skipton’s new E-Bond range are:

Key product details – Fixed Rate E-Bonds

E-Bond Term Balance Tiers Annual Interest Option Monthly Interest Option
1 Year Fixed Rate E-Bond £500 plus (no tiers apply)  1.50% Gross pa/ AER  1.49% Gross pa/ 1.50% AER
2 Year Fixed Rate E- Bond £500 plus (no tiers apply)  2.05% Gross pa/ AER  2.03% Gross pa/ 2.05% AER
3 Year Fixed Rate E-Bond £500 plus (no tiers apply)  2.35% Gross pa/ AER  2.33% Gross pa/ 2.36% AER
5 Year Fixed Rate E- Bond £500 plus (no tiers apply)  3.00% Gross pa/ AER  2.96% Gross pa/ 3.00% AER

The fixed rate ISAs and Bonds continue to reflect the Society’s commitment to offering consistent, long term good value products with exceptional customer service. And the combination of simplicity and attractive fixed rates means customers can invest their money with confidence.

Kris Brewster, Skipton’s head of products, says: “We’re extremely pleased to be increasing interest rates on our two, three and five year Bonds, with no restrictions on how much customers wish to save, up to a maximum of £1,000,000.

“We have also increased the interest rate on our 2 Year Fixed Rate Isa and, because of the new Isa rules, people can put substantially more of their savings into a tax free wrapper, up to £15,000. We saw a record number of ISA customers attracted to the Skipton since the announcement of the New ISA and we are continuing to offer savers attractive rates.”

 

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