Yorkshire Building Society has launched a new range of fixed rate ISAs for savers seeking competitive returns ahead of the new tax year.
The high street building society's offerings include a one-year fixed rate cash ISA with an interest rate of 4.15 per cent tax free/AER.
These new accounts come as the market prepares for over £50billion in fixed rate cash ISAs to mature between now and the end of May.
The tax-free account is available from Yorkshire Building Society branches and agencies, by post, online and for existing customers via the App.
It can be opened by anyone aged 18 or older with an opening balance of just £100. The account allows transfers-in from existing ISAs and interest is payable annually.
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Yorkshire Building Society has launched a new range of savings account
PAAs well as this, Yorkshire Building Society has also launched several other fixed rate ISAs as part of the new range, including the following:
- 4.10 per cent two-year (until April 30, 2027) fixed rate ISA in branches, agencies, post, online and via the App
- 4.05 per cent three-year (until April 30, 2028) fixed rate ISA in branches, agencies, post, online and via the App
- Four per cent five-year (until April 30, 2030) fixed rate ISA in branches, agencies, post, online and via the App
All these accounts are available through branches, agencies, post, online and via the App. The building society is urging customers with maturing funds to review their options ahead of the new tax year.
According to CACI data, over £50billion in fixed rate cash ISAs will mature across the market between now and the end of May.
This significant sum represents an opportunity for savers to reassess their savings strategies.
The building society shared that it aims to ensure customers have competitive options across various terms during this major maturity period.
Harry Walker, a senior savings manager at Yorkshire Building Society, outlined why saves should consider the mutual's latest offering.
He explained: "We always strive to offer our members competitive rates on their savings and we know that the approaching tax year end is a perfect opportunity for customers to review their accounts."
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Savers have been looking for the best deals amid a period of high interest rates GETTY He added: "With such a large number of balances maturing across the market in the coming months we want to ensure customers have competitive options, across a range of terms available.
"These new accounts give savers security with a guaranteed, competitive interest rate which isn't going to change for the duration of the account."
Over the last three years, Yorkshire Building Society has paid £1billion in additional interest to its members.
"Customers can have the confidence that we really provide long term value," Walker concluded.
