Skipton announces leap account

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Skipton announces leap account

Skipton Building Society has announced the launch of its new leap account, which the company claims is the perfect tool to help families save for their children's future.

Offering returns of 2.75 per cent AER and a minimum deposit of just £1, it is seen as a useful way for people to put money aside for their offspring.

In addition, savers will receive a 0.5 per cent interest rate bonus for the first 12 months, payable after the first anniversary of the account's opening.

Kris Brewster, head of products at Skipton, said: "Saving for our children's futures is one of the most important aspects of managing our finances responsibly and that's why we take having a strong children's account offering very seriously indeed."

The news follows recent comments by Christine Ross, head of financial planning at SG Hambros, who told listeners to the BBC Money Box podcast that families across the UK could be hoping to put money aside for their children at present, but many are finding it difficult in the current financial climate.

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