New Yorkshire Building Society saving account just for pensioners

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New Yorkshire Building Society saving account just for pensioners

A new Yorkshire building society saving account is to launch, specially designed for pensioners.

The Access Saver for Pensioners account will allow weekly branch withdrawals using a passbook, has an interest rate of 3.65 per cent gross and can be opened with a minimum balance of £50.

The building society was prompted to create the account after widespread post office closures and the phasing out of passbook accounts generated a market for it.

To qualify, either a state or private pension, must be paid in but there is no minimum age requirement.

Chief executive of the Society, Iain Cornish, said: "Being a mutual building society gives us the freedom to concentrate on precisely what is in the best interests of our customers.

"Our experience is that many people still prefer the security of an office to transact in, and a passbook to keep track of their investment and we are well placed to provide these."

March 7th will see the official launch of the product.

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