At the end of the 24 month term, which is also known as ‘maturity’, unless you tell us otherwise, your account will automatically transfer into a new easy access account, which has a variable rate of interest and doesn’t track the Bank of England Base Rate. You don’t need to give us notice and there are no penalties. Yes, subject to you setting up the relevant security measures you can withdraw online, via any branch, by post or over the telephone. They cannot be opened through the Skipton app. If you wish to open a joint account online, this is only possible through Skipton Online. You can save from £1 up to £1 million per account. To open and operate the account a valid email address must be provided. For each means of accessing your account you wish to use, you will be required to set up appropriate security and access measures. This account is open to UK residents aged 16 or over and can be opened and managed online, in branch, over the phone, by post or in branch. the estimated balance is based on the Bank of England Base Rate as at and does not take into account any changes to this rate during the term of the account.Įstimated balances are for illustrative purposes only and may be less for accounts opened by debit card or cheque. the interest is paid annually and added to the account. no further deposits or any withdrawals are made. the account is opened with £1,000 and interest starts being earned straight away. The estimated balance after the fixed term would be £1,063 assuming that. What would the estimated balance be after 24 months based on a £1,000 deposit? Section 22 of our Savings Account Terms and Conditions explains why we may change the interest rate. 
The interest rate is variable, so it can go up or down dependent on the Bank of England Base Rate.
Monthly interest is earned daily, and each month’s interest is paid on the same date your account was opened, or the last day of the month if shorter.Ĭan Skipton Building Society change the interest rate?.If the Bank of England Base Rate changes, the new interest rate on your account will apply without notice, no more than 14 days after the change is effective.To monitor the Bank of England Base Rate visit .uk The rate of interest is guaranteed to track 1.10% below the Bank of England Base Rate for 24 months.
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