Spotlight On: Yorkshire building society fixed rate savings bond
Support truly
independent journalism
Our mission is to deliver unbiased, fact-based reporting that holds power to account and exposes the truth.
Whether $5 or $50, every contribution counts.
Support us to deliver journalism without an agenda.
![Louise Thomas](https://static.independent.co.uk/static-assets/support-us/louise-thomas.png)
Louise Thomas
Editor
The deal
Yorkshire Building Society has launched a three-year fixed rate savings bond paying 4 per cent.
The good points
It matches the best buy rate over three years offered by accounts from Northern Rock and the Post Office. With inflation currently at 3.2 per cent, that doesn't seem too bad. The account can be opened in branches, online or over the phone.
The bad points
You won't be able to get at your cash during the three-year term. Also, the minimum need to open an account is £1,000 compared to just £1 at Northern Rock and £500 at the Post Office.
Conclusion
Putting savings into a fixed rate deal is a gamble. If interest rates rise you could end up regretting locking your cash away, especially as there are no withdrawals allowed on the account. You can get 3.15 per cent with one year fixed rate bonds with Northern Rock and Norwich & Peterborough, which could be another option if you may need your cash sooner.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments