Existing Member Regular Saver Issue 1

3.50% gross pa/AER fixed for 12 months
(Annual interest)

Ready to apply?

This product might be right for you if:

  • you're an existing Skipton member who joined on or before 16/08/21
  • you want the security of a fixed rate that’s guaranteed for 12 months
  • you’d like to save up to £250 per calendar month to build up a lump sum
  • you don’t need to withdraw from the account but want to be able to close the account if you really need to.

Prefer to open and manage your account online?

We have an online product that may be of interest.

Online Existing Member Regular Saver

Summary Box

Account name Existing Member Regular Saver Issue 1
What is the interest rate?
Annual Interest 3.50% gross pa/AER
Interest is earned daily and paid on the anniversary of account opening.
Monthly Interest: No monthly interest option available.
Can Skipton Building Society change the interest rate? The interest rate is fixed for the term of this account.
What would the estimated balance be after 12 months based on a £250 deposit each month? The estimated balance at the end of the fixed term would be £3,056 based on the following assumptions:
  • the account is opened with £250 on 1st of the month and interest starts being earned straight away
  • £250 is paid on the first day of each subsequent month by standing order
  • no withdrawals are made
  • the interest is paid annually and added to the account.
Estimated balances are for illustrative purposes only and may be less for accounts opened by debit card or cheque.
How do I open and manage my account?
  • This account is only available to UK residents aged 16 or over, that hold a continuous membership with Skipton Building Society (a Savings Share account or a Mortgage) starting on or before 16 August 2021 with a minimum balance of £1.
  • The account can only be opened and managed in any of our branches, by post or by phone (a working email address is required when opening by phone).
  • The minimum balance is £1 and there is no minimum monthly subscription.
  • You can save up to £250 per calendar month. Monthly allowances not utilised can be rolled over to future months, up to a maximum of £3,000 over the 12 month term.
  • Joint accounts are allowed subject to a maximum of two account holders. Each joint account holder must be an existing Skipton member on or before 16 August 2021.
  • You can only hold one Existing Member Regular Saver account (either online or offline) in your own name. Therefore, if you already have an Existing Member Regular Saver account (online or offline) in your own name or you are the first account holder (representative joint shareholder) on an Existing Member Regular Saver account held in joint names, you cannot subsequently open another one held in this way. You may, however, be named on one other joint Existing Member Regular Saver account but not as the first account holder (representative joint shareholder).
Can I withdraw money?
  • You can’t withdraw part of your account balance, however, you can close your account at any time and withdraw the full balance in branch, by phone or by post.
  • At the end of the 12 month fixed rate term, which is also known as ‘maturity’, your account will automatically transfer into a new variable rate easy access account, unless you tell us otherwise.
  • We’ll contact you before maturity and you can find out more about the maturity process in condition 8 overleaf.
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.

Frequently asked questions

You can apply for an Existing Member Regular Saver account if you're an existing member who has held continuous membership since 16 August 2021 or before.

If you have a personal savings account or mortgage with us, it means you’re a member of the Society, as long as you keep a minimum balance of £1.

If you operate an account on someone else’s behalf, for example, as an attorney or personal representative, you are not the member – membership stays with the customer named on the account.

If your account allows regular withdrawals, the easiest way is to use our web chat service using the blue chat button at the bottom of the screen.

You can’t withdraw part of your account balance; however, you can close your account at any time and withdraw the full balance.

You can close your account at any time.

If you want to send money from a UK bank or building society, please use the following banking details:

Sort code
20-78-91
Account number
70798924
Reference
your 9 digit Skipton account number
Payee name
Skipton Building Society

Important Information

We use Barclays for our banking services. So, when you are receiving or sending payments, the transaction may show up on your records as Barclays.

When setting up Skipton Building Society as a new payee, you may be asked by your provider what type of payee you would like to set up. Please select ‘business’ or ‘large business’ and remember to add your account number as the reference.

You can find other ways to pay in on our Paying in page.

Before you apply

Proving your Identity

We may require identification to open the account. If you're opening your account in branch, please bring proof of ID as set out in our Proving your identity document [PDF].

If you’re 18 or over and on the electoral roll for your current address we may be able to verify your identification electronically, to do this please call us on 0345 608 0783 and we’ll let you know straight away if you’ve passed our checks. If we can’t verify your identity electronically, or if you're under 18, you’ll need to provide us with proof of ID as set out in our Proving your identity document [PDF].

Terms and Conditions

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

Application forms

How to apply

Branch

Visit your local branch for further information and to open this account.

Phone

This account can be applied for over the phone. You can call us or arrange for us to call you back.

Mon-Thurs
8am - 6pm
Fri
8am - 5:30pm
Sat
9am - 12pm

Post

Return your application form and cheque to:

Customer Delivery
Skipton Building Society
The Bailey
Skipton
BD23 1DN

If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 608 0783, 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

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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