BANK ACCOUNTS
Yorkshire Building Society announce Christmas Saver account
Yorkshire Building Society will launch its Christmas Saver account on 1st of December, allowing people to budget for Christmas next year.
Launched in 2009, the Christmas Saver is now in its third year and will be available in all branches of Yorkshire, Barnsley and Chelsea Building Society.
The Christmas Saver account offers a rate of 3.50% and members will be able to invest up to £1,200 into the account.
This can be done in one lump sum, by making regular deposits, or by paying in spare cash when possible. The savings account will mature on 1 December 2012, just in time for Christmas.
“We all feel the pinch at Christmas as the demands on our pay packet increase - be it due to a mounting present list, additional nights out with friends and family or simply the added costs of our daily food bills and the Christmas turkey,” said Lynne Pepper, Product Manager at Yorkshire Building Society.
“Therefore, our Christmas Saver is the perfect way to start thinking ahead for next year to take off some of the pressure.”
The announcement of this savings account comes as it was revealed this week that one in four Brits expect to go over their Christmas budget this year.
It was also found that those who fail to plan ahead to pay off Christmas debt could have an extra £70.20 to pay in interest.
Kevin Mountford is Head of Banking at MoneySupermarket.com, which carried out the research. He said “Consumers really need to try and keep a sensible head under their Santa hat, as once the decorations are down all they will be left with is a financial hangover.”
The research also found that the average Brit will see their bank accounts take a £437 hit over the festive season, as they shell out for gifts, food and alcohol.
Tags: BANK ACCOUNTS, Barnsley, budgeting for christmas, Chelsea Building Society, saving accounts, Yorkshire