Online Existing Member Regular Saver Issue 1

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

Ready to apply?

This account 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.

Summary Box

Account name Online 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.
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 online.
  • 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 not allowed.
  • You can only hold one Online Existing Member Regular Saver account (either online or offline) in your name.
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 online.
  • 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

It is important that you read the terms and condition 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.

We’ll set up your Skipton Online access as part of your secure online application, if you haven’t already registered.

Ready to apply?

Annual interest

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

Apply online now

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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