Yorkshire Building Society launches new online savings bonds

www.moneynews.co.uk > Banking > Yorkshire Building Society launches new online savings bonds

Yorkshire Building Society launches new online savings bonds

Tue 2nd Aug 2011

Yorkshire Building Society has issued a small package of fixed-rate savings bonds for its online investors.

The building society bonds vary between 12 and 18 months in length, with the former paying 3.45 per cent gross/AER and marketed as the company's best fixed-rate bond on the market, while the 18-month agreement comes with a 3.6 per cent gross/AER rate.

"We believe this new one-year e-bond will be attractive to customers who are wishing to make the most of their savings at this time," said Mike Helliwell, Yorkshire Building Society's savings product manager.

Meanwhile, Ray Black, independent financial advisor and managing director of Money Minder, claimed that many younger members of the UK's workforce lacked the desire to save at all.

His comments come on the back of yesterday's (August 1st) Workplace Retirement Income Commission report, which highlighted the need to radically re-invigorate the UK's pension market as savings figures fall among younger generations.

Young people unfortunately "lack the desire to save for anything", observed Mr Black.

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'