Skipton BS launch Christmas Saver 6.80%

Kazza242

I just thought that fellow regular saving MSE's might like to know that Skipton BS will be launching a Christmas Saver (regular savings account) paying 6.80% interest.

As it's name suggests, the Christmas Saver is aimed at helping people spread the cost of the festive season (2007).

Key features

- It is a branch-based account paying 6.80%. You are only permitted access to the accrued balance from 25th November 2007 (oddly this date falls on a Sunday).

- The account launches on Monday 15th January 2007 through the 79 Skipton branches in the UK. (branches will take down the details of interested customers prior to the account launch date).

- Monthly deposits can be made by cash, cheque, internal transfer from another Skipton account or by standing order.

- Minimum monthly deposit £10 and maximum £150.

- Minimum opening deposit £10 up to a maximum £150.

- Maximum account balance £1800 per year.

- Withdrawals are not allowed from the date of opening until midnight 24th November 2007. The account will then be converted into an Instant Access Account - currently paying 2.87% for the maximum balance of £1,800 where the customer can access their funds.

More details here.

Skipton Building Society website.

mary

I don't really live close enough to a branch, do you think a postal application would be acceptable. I've not had any contact with this BS before.

Dagobert

You come up with new regular savers quicker than I can open them!

Kazza242 wrote:

Maximum account balance £1800

How do you achieve £1800 with the first monthly investment starting in January and the last before the interest drop in November?

Kazza242

Dagobert wrote:

You come up with new regular savers quicker than I can open them!

How do you achieve £1800 with the first monthly investment starting in January and the last before the interest drop in November?

LOL, looks like the person who wrote the article was including a Dec '06 payment into the equation, (even though the account doesn't launch until Jan 15th) or maybe you are permitted to open the account with £150 and then make an SO payment during the same month(?).

If not, then the maximum account balance should be £1650. Although the article does state £1,800.

$nake_eye$

Looks good, you dont happen to work for skipton do you?

Kazza242

$nake_eye$ wrote:

Looks good, you dont happen to work for skipton do you?

No!;) I don't work in the banking sector.

$nake_eye$

But theres a wink!! ahh what does it mean

Kazza242

$nake_eye$ wrote:

But theres a wink!! ahh what does it mean

Seriously, I don't work in the banking sector, like many other MSE's, I like regular savings accounts. The wink was meant to make my answer more light-hearted.

free4440273

are you allowed to pay a one-off lump sum investment to the maximum amount of £1800? thanks all

mary

I think if you read the opening article in this thread by Kazaa, you will see that it is a Regular Monthly Saver, therefore no, you can't put in a lump sum.

Kazza242

free4440273 wrote:

are you allowed to pay a one-off lump sum investment to the maximum amount of £1800? thanks all

No, according to the info Skipton have released, the maximum monthly deposit is £150. You cannot pay in a lump sum.