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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.
Yorkshire Building Society offers a wide range of different savings products, including:
Fixed Rate Bonds
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.
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.
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:
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:
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