Yorkshire Building Society fixed rate bond 'offers flexibility'

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Yorkshire Building Society fixed rate bond 'offers flexibility'

Fri 31st Dec 2010

A source from Yorkshire Building Society has lauded a new fixed rate bond offered by the firm.

Mike Helliwell, savings product manager at the company, described the new three-year account as "unique", since access to funds is related to the Financial Services Compensation Scheme (FSCS) limit.

He said: "Our members can still take advantage of a great fixed term rate but know that they have the flexibility to withdraw funds if their limit is reduced."

The company's three-year fixed rate bond offers four per cent interest on balances up to the FSCS limit and is available at its sister brands as well - Chelsea Building Society and Barnsley Building Society.

Yorkshire Building Society pointed out that the FSCS threshold went up to £85,000 on Friday (December 31st).

According to a statement by the FSCS, the new threshold is the sterling equivalent to €100,000 and applies to each person at every authorised financial services firm they have a deposit with.

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