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Yorkshire Bank Savings Account Comparison
To help you find the most suitable savings account for your money, have a look through the options below where we have compared all our savings accounts and some of their features. You can also refer to our Fee Information Documents and Glossary of Terms here.
Clydesdale Bank, Yorkshire Bank, B and Virgin Money are becoming one bank
In October 2018, Virgin Money plc (Virgin Money) joined forces with Clydesdale Bank PLC (Clydesdale). If you have any products with Virgin Money, we need you to read some information before you apply. This includes how your Financial Services Compensation Scheme (FSCS) protection could be affected.
Which savings account is right for you?
Fixed Term and Notice Accounts
40-Day Notice Account
- 16 minimum age
- £500 minimum opening deposit
- Suitable for regular savings
- Gross interest[2]
- 40 days notice required for withdrawal.
Fixed Term Deposit
- 16 minimum age
- £2,000 minimum opening deposit
- Gross interest[2]
- Withdrawals not permitted
Tax Free Cash ISAs
Cash ISA Fixed Rate Bond
1.40% p.a/AER
Maturity Date: 28th August 2020
- UK residents only
- 16 minimum age (18+ if you want to apply online)
- £10 minimum opening deposit
- Tax-free interest[6]
- Interest is calculated on a daily basis and is paid to the account on the last business day of August 2019 and annually thereafter until Maturity, or on account closure
- Charges apply to early account closures or transfers. Partial Withdrawals not permitted. Product can be withdrawn at any time.
Help to Buy: ISA
- UK residents only
- 16 minimum age (18+ if you want to apply online)
- £0 minimum opening deposit[3]
- Monthly maximum £200 plus additional £1000 in first month
- Government bonus of 25% paid on account balances between £1,600 and £12,000 when purchasing your 1st home in UK, Ts&Cs apply
- Tax free interest[6]
- Immediate access[4]
- Telephone, internet and mobile banking
Instant Access Savings Accounts
Instant Savings Account
- 16 minimum age (18+ if you want to apply online)
- £1 minimum opening deposit
- Suitable for regular savings
- Gross interest[2]
- Immediate access
- Telephone, internet and mobile banking
Children's Savings
Jumpstart Savers Account
- For children aged 6 - 16
- Pay in and withdraw money at any time
- Option to have debit card from age 11 and over[8]
Find out more about our Jumpstart Savers Account (opens in a new window)
Headstart Savers Account
- For children aged 0 - 16
- Earn interest, linked to Bank of England base rate
- Give us 95 days' notice to withdraw cash
Find out more about our Headstart Savers Account (opens in a new window)
The overall ISA limit for 2018/19 is £20,000 with the option to save all or some of the full allowance in cash. You can split your allowance across a stocks and shares ISA, innovative finance ISA and either a cash ISA or Help to Buy: ISA each tax year, providing you do not exceed the Help to Buy: ISA monthly subscription allowance. You cannot subscribe to a Cash ISA and a Help to Buy: ISA in the same tax year.
Key to numbers in brackets
- [1] You need to hold a B Current Account to qualify for B Instant Savings Account and Signature Current Account for a Signature Savings Account.
- [2] Gross interest is the interest payable without taking account of any tax payable. If you earn interest over your Personal Savings Allowance you will be required to pay any tax due yourself directly to HMRC. If you would like to read more about your Personal Savings Allowance, please visit the Government website www.gov.uk.
- [3] Maximum deposit in calendar month account is opened is £1200.
- [4] Any withdrawals during the same tax year will reduce the current year’s annual ISA subscription allowance, and for Help to Buy: ISA account holders only ‐ impact on the bonus the government will pay.
- [5] Any withdrawals during the same tax year will NOT reduce the current year's annual ISA subscription allowance.
- [6] Tax Free ‐ Is the rate payable when income is exempt from income tax. The value of any tax benefits to you depends on your individual circumstances, the Law and Her Majesty's Revenue and Customs (HMRC) practice which are subject to change.
- [7] Offsetting means you can use the money in your savings account to reduce the amount of interest you pay on your existing Yorkshire Bank offset mortgage. Remember, no credit interest will be paid on account credit balances that are used for offsetting.
- [8]If children are over 11 years of age or over, they can open and operate the account in their name provided their parent, guardian, grandparent or other responsible adult agrees. If children are under 11, the account can be opened in their name and operated by their parent, guardian, grandparent or other responsible adult.
Financial Services Compensation Scheme (FSCS)
Protecting your money
Your eligible deposits with Clydesdale Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.
This limit is applied to the total of any deposits you have with the following: Clydesdale Bank, Yorkshire Bank and B. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please see FSCS leaflet download (Opens in a new window) for further information or visit www.fscs.org.uk
