Up to 5.10% gross pa/AER Variable
A guaranteed rate and no surprises
If a great rate matters more than easy access to your money, our Base Rate Tracker Account offers the perfect solution.
As the name suggests, it follows the Bank of England base rate: the interest rate at which the Bank of England lends to financial institutions, and guarantees that your interest rate will track Bank base rate until 30 June 2009.
After this date, we'll review the guaranteed link to Bank base rate and either offer you a new guarantee period with new terms or transfer you to a variable rate, penalty-free access account.
The more you invest, the more you earn
Thanks to attractive tiered rates of interest, our Base Rate Tracker Account also rewards you the more you save. In fact, depending on the amount you invest, you can earn up to 0.10% above Bank base rate.
When Bank base rate does change, it will be 14 days before the new interest rates are applied to your account.
Where possible, we aim to keep our administration costs down to a minimum, so we can pass the savings on to you. For this reason, we do not allow transactions in cash on this account.
How would you like your interest?
For added convenience, you can choose to have your interest paid monthly or annually and choose how you want it to be paid. (Please remember that monthly interest rates are slightly lower than annual rates.)
We can pay your interest into either your Base Rate Tracker Account, or your bank account, annually on 1 January. Alternatively, you can have your interest paid monthly into your bank account.
Withdraw your money penalty-free, four times a year
- You can make a penalty-free withdrawal, of at least £1 from your savings, four times per calendar year, simply by giving us 30 days' notice
- You can also access your funds in the 14 days following a Bank base rate change before the new rate becomes effective on your account. However, please remember to maintain a balance of £500 or more, to keep your account open. You can close your account if you wish
- You're free to make more withdrawals without giving notice, but you will be charged 30 days' interest on the amount withdrawn. This will be automatically deducted from your next interest payment. Closure is classed as a withdrawal
- Withdrawals can only be made in the form of a cheque or by transfer
- Unfortunately, you cannot have more than one notice period running at once.
Annual Interest option
| Investment |
Differentials |
Annual Rate (gross pa / AER) |
| £100,000 or more |
0.10% above Bank base rate |
5.10% |
| £25,000 to £99,999 |
0.10% below Bank base rate |
4.90% |
| £5,000 to £24,999 |
0.25% below Bank base rate |
4.75% |
| £2,000 to £4,999 |
0.50% below Bank base rate |
4.50% |
| £500 to £1,999 |
1.50% below Bank base rate |
3.50% |
Monthly interest option
| Investment |
Differentials |
Monthly Rate (gross pa) |
AER |
| £100,000 or more |
0.15% below Bank base rate |
4.85% |
4.96% |
| £25,000 to £99,999 |
0.35% below Bank base rate |
4.65% |
4.75% |
| £5,000 to £24,999 |
0.50% below Bank base rate |
4.50% |
4.59% |
| £2,000 to £4,999 |
0.75% below Bank base rate |
4.25% |
4.33% |
| £500 to £1,999 |
1.75% below Bank base rate |
3.25% |
3.30% |
Ready to open a Base Rate Tracker?
For more information speak to your local branch by calling 08457 171777*
To apply, read the further terms and conditions, complete an application form and either:
- Return it to your local branch or
- Send your application details to:
First Class Unit
Skipton Building Society
The Bailey
Skipton
North Yorkshire
BD23 1DN