Yorkshire Building Society
History
The history of the Yorkshire Building Society is a long one, dating all the way back to 1864 and the establishment of the Huddersfield Equitable Permanent Benefit Building Society. This entity eventually evolved into the Yorkshire Building Society in 1982, after a long series of mergers and acquisitions in the century preceding. Yorkshire Building Society continued to grow after this point, with subsequent mergers and the addition of YorkSHARE Limited, a share dealing service that is run by Yorkshire Building Society.
Current Information
Today, the Yorkshire Building Society boasts assets of more than £23.0 billion and provides 135 branches across the UK. In addition, customers enjoy the convenience of online and phone banking for a large range of their needs. The main office of the Yorkshire Building Society is located in Yorkshire on the southern outskirts of Bradford, and it employs about 800 people.
Cash ISAs Available
Yorkshire Building Society offers one of the best selections of ISAs available, with a wide range of both cash and stocks and shares ISAs from which to choose. The following is a listing of the cash accounts offered by YBS:
- E-ISA – Managed completely online, this ISA requires a minimum investment of £10, with interest paid annually. Additional deposits must also be a minimum of £10. Withdrawals are allowed at any time, in minimum amounts of £10.
- Fixed Rate ISA – This account offers a competitive fixed rate, which is tiered based on whether you have interest paid out monthly or annually. The account requires a minimum investment of £100, and withdrawals are not permitted until the account matures at a date set by the bank. The interest rate is fixed throughout the term.
- Anniversary ISA – Unlike the Fixed Rate ISA, the Anniversary ISA term is based on the day you open the account. During your anniversary month, you are allowed to make deposits, withdrawals or transfers without penalty. The account offers a fixed rate of interest during the term, which can be paid monthly or annually. Initial investment must be at least £100.
- ISA Plus – This account can be opened for as little as £10, and withdrawals can be made at any time without penalty. Interest can be paid monthly or annually. The rate on this ISA is variable, and it is set to go no lower than 1% below the Bank of England base rate.
- Monthly Reward ISA – The monthly reward on this account comes when you do not access your funds at any time during the month, encouraging you to save rather than spend. Interest is payable on the first working day of the month, but is not earned during months when withdrawals are made.
Stocks and Shares ISAs to Choose From
The Yorkshire Building Society also offers a stocks and shares ISA for customers who are interested in undertaking a bit more risk for a higher potential rate of return. Yorkshire offers a variety of ISA funds for customers to choose from, which are subject to change regularly, based on current market trends. To find out more about stocks and shares ISAs through YBS, schedule an appointment with a Legal & General consultant.
Yorkshire Building Society has a long history and a strong presence in the UK. With one of the widest selections of ISAs available, this may be the building society to choose for all of your ISA needs.