UK Money News
22nd April 2008
New savings account from the Yorkshire
Yorkshire Bank has launched a new rate term savings account offering a guaranteed interest rate of 6.25 per cent AER.
Conditions of entry are a minimum deposit of £2,000, with the promised rate of return guaranteed only if the money is untouched.
The account uses a tiered system to calculate returns with six per cent offered over 12 months, 6.05 per cent over 18 months and 6.15 per cent over two years.
Gary Lumby, Yorkshire Bank's head of retail, said: "Fixed rate term deposits are great for people looking to maximize the growth of their savings.
"Savers put an initial lump sum into the account and as it can't be added to during the course of the term, we're able to offer great rates so customers will really see substantial growth in their account."
The maximum deposit permitted for the Yorkshire Bank Term Deposit Account is £500,000.
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