Online Bonus Saver Issue 5

1.42% gross pa/AER variable
(including 0.42% bonus for the first 16 months)

Ready to apply?

This account may be right for you if:

  • You’d like to receive a bonus rate on your savings for the first 16 months
  • You’d like easy access to your money
  • You want to open and manage your account online.

Summary Box

Account name Online Bonus Saver Issue 5
What is the interest rate?
Annual Interest 1.00% gross pa/AER (Without bonus)
1.42% gross pa/AER ( With bonus of 0.42% for the first 16 months)

Interest is earned daily and added to your account annually on the anniversary of your account opening. An additional interest payment will be made at the end of the 16 month bonus period.
Monthly Interest: No monthly interest option available.
Can Skipton Building Society change the interest rate?
  • Yes, the interest rate is variable, so it can go up or down.
  • Section 22 of our Savings Account Terms and Conditions explains why we may change the interest rate.
  • If you have at least £100 in your account we'll notify you before any drop in your interest rate.
What would the estimated balance be after 16 and 28 months based on a £1,000 deposit?
  • The estimated balance after 16 months with the bonus would be £1,019.
  • The estimated balance after a further 12 months without the bonus would be £1,029.
  • These estimates are based on the following assumptions:
    • £1,000 is paid in when the account is opened and interest starts being earned straight away.
    • No further deposits or any withdrawals are made
    • The interest is paid annually and at the end of the 16 month bonus period and added to the account
    • There is no change to the interest rates stated
  • Estimated balances are for illustrative purposes only and may be less for accounts opened by debit card.
How do I open and manage my account?
  • This account is available to UK residents aged 16 or over and can only be opened and managed online.
  • You can save from £1 up to £1 million per account.
  • Joint accounts are allowed.
Can I withdraw money?
  • Yes, you can withdraw money or close the account online. You don’t need to give us notice and there are no penalties.
  • For security reasons, you can’t withdraw money or close the account within 14 days of us receiving your first payment. This applies to both new and existing customers.
Additional information
  • AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year.
  • We pay all savings interest gross, which means no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in the future.
  • Accounts can be withdrawn from sale at any time and without notice.

Before you apply

It is important that you read the terms and conditions documents carefully. These contain the details of your agreement with us for these accounts and we will rely on them for our relationship with you.

You can apply for this account securely online. If you are not an existing Skipton Online customer, we will set up your online access as part of this process.

Ready to apply?

Pay my interest annually

1.42% gross pa/AER variable
(including 0.42% bonus for the first 16 months)

Apply online now

If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 850 1722, ask in branch or visit our Complaints page.

The Financial Ombudsman Service provides a free and independent service for consumers, and can be contacted at The Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone: 0800 023 4567.

www.financial-ombudsman.org.uk

For products and services bought online you can also refer to the Online Dispute Resolution platform (ODR) at ec.europa.eu/odr/. As we're a UK building society, the ODR will still refer you to the Financial Ombudsman Service as the alternative dispute resolution body. The Financial Ombudsman Service will refer you back to our complaints process unless you've already been through this.

Financial Services Compensation Scheme

Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

Learn more about the FSCS

FSCS - Protecting Your Money
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