Skipton savings deal enters Which? best rate tablesOnline account allows unlimited withdrawals
24 August 2011
Skipton Building Society has launched a competitive online instant-access savings account paying 3.05% AER,
The Online Bonus Saver account from Skipton BS enters our Instant Access Best Rate table. Savers can open this internet-only account with £1,000, up to a maximum of £1million, and are permitted to make limitless withdrawals. Interest on the account is paid yearly.
Watch out when the bonus period ends
As the name of the account suggests - it includes an introductory bonus of 1.55% paid for the first 12-months on balances of £1,000 or more. After the first 12-months the rate reverts to 1.5%.
Which? savings expert Jo Langenhan commented: 'Consumers will need to act quickly if they want to open this Best Rate instant access account as it's a limited offer and may be withdrawn at short notice. You will also need to review this account once the bonus period ends, as the rate drops to just 1.5% so will no longer be competitive after 12-months'.
You may be able to earn a higher interest rate if you're happy to lock up your savings for longer. See our fixed-term savings account reviews for more details.
Which? Money when you need it
You can follow @WhichMoney on Twitter to keep up-to-date with our Best Rates and Recommended Provider product and service reviews.
Sign up for the latest money news, best rates and recommended providers in your newsletter every Friday.
Or for money-saving tips, and news of how what's going on in the world of finance affects you, join Melanie Dowding and James Daley for the Which? Money weekly money podcast
For daily consumer news, subscribe to the Which? news RSS feed here. And to find out how we work for you on money issues, visit our personal finance campaigns pages.