Yorkshire Building Society to increase savings rates
www.moneynews.co.uk > General finance > Yorkshire Building Society to increase savings rates
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Money News |
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Yorkshire Building Society to increase savings rates
Tue 15th Aug 2006
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The new rates will come into effect on August 27th and will be increased by 0.35 per cent, with the rest of the savings range increased by a quarter of a point.
The building society's transaction account, Cash Transactor, will be remaining the same, with the standard variable mortgage rate increased by 0.25 per cent to 6.65 per cent.
Andy Caton, corporate development director of the Yorkshire said: "Most investors will have had a two-year wait since they last saw any improvement in their rates following a Bank of England base rate decision."
"After such a long wait we think it is important that members at the Yorkshire get the full benefit of the increase on any savings account held with the Society. We have also taken the opportunity to raise interest rates on our range of youth accounts by more than the base rate increase."
He went on to say that usually when rate changes are considered, the main requirement is to balance the books between savings and borrowing customers.
"Selective increases are normally the order of the day, but it is a pleasure on this occasion to put a uniform increase across our entire range of savings accounts with additional benefits for the young," Mr Caton concludes.
Related News : General finance |
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