Skipton Building Society has launched a new savings account with a 4% interest rate. The One Year Tracker Bond is available to new and existing customers. The account offers a variable rate of interest that tracks 0.25% above the Bank of England Base Rate for 12 months. The account can be opened in branches, online, via the app or by phone.

The account boasts a variable rate of interest that tracks 0.25% above the BoE Base Rate for 12 months. There are no withdrawals permitted and you can save anything from £500 to £1million with the account. A savings account is simply a place for you to put your money and earn some interest, but getting the right account can be tricky.

Alex Sitaras, Head of Savings & Partnership Products at Skipton Building Society, said: “We’re pleased to launch our new One Year Tracker, offering a market‑competitive return for our members.

“At Skipton, we remain committed to providing straightforward, good‑value savings solutions, and this product further broadens the accessible options available to support both new and long‑standing members.”

Skipton Building Society has been around for more than 170 years, aiming to help people have a home, save for the future and save for long-term financial security. Across the UK, the bank has around 82 branches.

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It’s crucial to keep your savings in an account that will maximise them.

If you’re thinking about opening a new account, make sure to check its terms and conditions before signing up.

Money Saving Expert says: “After many years of low rates, savings have made a significant comeback over the last couple of years.

“And while rates are on their way back down from recent peaks, top savings still pay more than inflation, so there’s a chance to really make your money work for you.”