Skipton Building Society

 

History

Skipton and District Permanent Benefit Building Society was founded in 1853 by George Kendall. In 1928, the name was shortened to Skipton Building Society after a new head office was opened on Skipton Street. This office is still the location of the Skipton branch today. Throughout the rest of the 20th century, Skipton Building Society continued to grow through a series of mergers with other societies. In the 1980s, Skipton launched two subsidiaries: Homeloan Management Limited and Skipton Financial Services, Ltd.

Current Information

Today, Skipton Building Society continues to thrive, with assets of more than £10 billion, 90 branches across the UK and 21 subsidiary companies. The company offers savings and investments, mortgage loans, insurance and financial planning advice to their customers. In addition, Skipton Building Society offers one of the widest ranges of cash ISA options on the UK financial market today.

Cash ISAs Available

Skipton Building Society currently provides four different cash ISAs to their customers, allowing each customer to choose the best savings account for his individual needs.

  • Skipton Cash ISA – This account requires a minimum opening and operating amount of £50. The rate is variable and competitive, and customers have a choice on the type of interest payment structure they would like. Withdrawals and transfers are allowed on this account at any time without penalty. The account also allows for funds to be transferred into it.
  • Fixed-Rate Cash ISA – This is one of the newer Skipton ISA products available, which offers a fixed interest rate throughout the term of the account. The minimum opening and operation balance for the Fixed-Rate Cash ISA is £50 or £15,000 by transfer from another Skipton cash ISA. Withdrawals and transfers made during the account term will be subject to a 180-day interest penalty.
  • Online Cash ISA – This account is for customers who like to perform their banking business from the comfort of home. The account offers a competitive variable rate and can be opened with as little as £50. Interest is accrued daily and paid out annually. Customers can opt to have interest payments transferred into another Skipton account as well. Withdrawals can be made from the account at any time without an interest penalty assessed.
  • NSPCC Skipton Cash ISA – This unique product allows customers to open an ISA with Skipton and contribute to the NSPCC Full Stop Campaign against cruelty to children at the same time. The account originated in 1999, and since that time, more than £1.1 million has been raised for the organization by Skipton customers. Customers who choose this ISA give up 0.50% interest to contribute to the organization. The interest rate on the account is competitive and variable, even with the discounted sum going to the charity. Withdrawals can be made from the account at any time without penalty.

Skipton Building Society offers a wide range of cash ISAs for your consideration. No matter how much money you want to invest, or how accessible you need your funds to be, Skipton has an ISA product that can fit well with the rest of your financial portfolio.

Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.

www.isa.co.uk is a trading style of Fair Investment Company Limited, which is authorised and regulated by the Financial Services Authority (FSA). Fair Investment Company Limited is entered on the FSA register (www.fsa.gov.uk) under reference number 192852. Registered in England no. 3980180. Registered address: Kings House, 14 Orchard Street, Bristol, BS1 5EH.

The information and content of this website is subject to the UK regulatory regime and is therefore intended for UK consumers.


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