The account offers passbook and face-to-face customer service and allows customers to access their savings on one day in the year without penalty plus closure if required.
The account can be opened with a minimum balance of £100, with account holders able to deposit up to £2 million. The SAS gives savers the choice of either monthly interest (at 1.29%) or annual interest (at 1.30%).
After one year the account will mature and customers can choose at opening to transfer their funds into an Access Saver or the latest issue of the Triple Access Saver account.
Louise Halliwell, Senior Product Manager at Yorkshire Building Society, said:
“Our new Single Access Saver account will benefit tactical savers who want put money away for a year knowing that they will get a competitive return on their money, but retain limited access to their funds should they need money in a hurry. The account may also appeal to savers who want to take advantage of any future rise in interest rates.”
