Yorkshire Building Society savings accounts

Find out more about Yorkshire Building Society's savings accounts

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Yorkshire Building Society

Yorkshire Building Society (YBS) is the third largest building society in the UK, with more than 3 million customers and £42 billion in assets.

Much of its growth has been over the last 10 years, with around 1.5 million new members joining from across the UK in that time. It still has its roots in Yorkshire, though, with its headquarters on the outskirts of Bradford.

It offers a range of financial products, including savings accounts. Find out here if it’s the best option for you.

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What savings accounts does Yorkshire Building Society offer?

Yorkshire Building Society offers a wide range of different savings products, including:

Easy Access

  • Choice of 11 different types of accounts
  • Variable interest rates ranging from 0.5% to 1.35%
  • Choice of monthly or annual interest
  • Save starting from £1, £10 or £100
  • Choice of limited or unlimited withdrawals
  • Manage your accounts online

Cash ISAs

  • Choice of 14 different types of accounts
  • Fixed or variable interest rates ranging from 0.5% to 2.25%
  • Choose from Help to Buy ISAs, fixed rate ISAs or instant access ISAs
  • Choice of monthly or annual interest
  • Save starting from £10 or £100
  • Manage your accounts online

Fixed Rate Bonds

  • Choice of six different types of accounts
  • Fixed interest rates ranging from 1.5% to 1.75%
  • Withdrawals and early closure not permitted
  • Choice of monthly or annual interest
  • Save from £1,000
  • Manage your accounts online

Regular savings

  • Save starting from £10
  • Annual interest
  • Save up to £250 per month for 1 year
  • Manage your account online

Children’s

  • Save from £10
  • Biannual interest
  • Unlimited withdrawals, subject to daily withdrawal limit of £500 per day
  • For anyone under the age of 21

Is it easy to open a Yorkshire Building Society savings account?

Some of its accounts are easier to open than others.

With some of its savings options, you can register online or by post, while with others you have to go into a branch and have a face-to-face meeting.

For those on a budget but looking to squirrel away some money, you can open some of its accounts with as little as £1.

What is a 'building society'?

A building society is a financial institution owned by its members. Building societies offer banking and related financial services including mortgages and savings.

Whereas banks are normally listed on the stock market and are run for their shareholders, building societies aren’t. Because they don’t have shareholders to pay, building societies have historically claimed to offer better interest and cheaper mortgage rates than banks.

How do I decide which account is for me?

Do you want the option of taking money out? How much money can you afford to save each month? Factors such as these will determine the right account for you.

Fixed-rate bonds will typically give you a better return, for instance, but you have to put away a lump sum for a year – with no option of taking it out early.

Once you’ve worked out the type of account, these are useful aspects to bear in mind when you’re comparing accounts:

  • Interest rates
  • Fees (if there are any)
  • Access to cash (if you need quick access, for instance)
  • Rewards and loyalty schemes (if you’re into the add-ons or switching bonuses)

Does Yorkshire Building Society offer online or mobile banking?

Yorkshire Building Society offers online banking, but does not have a dedicated mobile app.

Here are some of the basic features of Yorkshire Building Society’s online banking service:

  • View your latest transactions
  • Move your money between accounts quickly and easily
  • Change your details with ease
  • Get in contact with us securely
  • Keep up to date with our latest news
  • View your latest transactions

What are the benefits and drawbacks of banking with Yorkshire Building Society?

The benefits

  • Online banking. Your Yorkshire Building Society savings account can be accessed online through the website.
  • Flexibility. Yorkshire Building Society’s extensive variety of accounts offers flexible options no matter what kind of savings you’re looking for.
  • FSCS protection. With Yorkshire Building Society you have the peace of mind that comes from knowing your money is protected up to a total of £85,000 by the UK’s deposit guarantee scheme.
  • High street presence. If you like the assurance of face-to-face customer service, Yorkshire Building Society has a number of branches.

The drawbacks

  • No mobile app. If you have to have access to your accounts on the go, you might be better off finding one that offers a mobile app.
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