Skipton Building Society launches 'market leading' 7 year savings account fixed at 4%

has launched a 7-year fixed-rate bond, having seen a growing appetite among savers to invest their savings rather than leave them in easy-access accounts. Skipton's 7-year bond offers a market-leading rate of 4% and can be opened with deposits of between £500 and £50,000.

Savers will not be able to withdraw or close the account until maturity at the end of the term. Alex Sitaras, head of savings & partnership products at Skipton Building Society, said: "There is a growing appetite for savers to fix funds instead of leaving money in easy access accounts as market rates decline."

Sitaras added: "Longer term options are becoming more popular as customers are conscious about investments following market volatility. Our new 7-year Fixed Rate Bond paying 4.00% is a good option for long term savers who wanted a predictable return helping them accumulate savings over time.''

New and existing savers can open Skipton Building Society's new 7-year Fixed Rate Bond today by phone or post, in branch, or online.

For more information on Skipton's full range of variable and fixed rate savings products, visit

Earlier this month Skipton launched a mortgage for those looking to get on the property ladder. Skipton's Delayed Start gives borrowers payments of £0 for the first three months after they move into their home. As well as the postponed payments, the scheme is available to buyers with deposits starting at just 5%. It also offers fixed rates from 4.78% to 5.4%.

According to Skipton Building Society, the Delayed Start will give buyers important breathing room for extra expenses. Research shows that first-time buyers spend an average of £3,500 on furniture and £2,600 on kitchen appliances.

The three-month plan helps relieve the immediate pressure of monthly payments. It allows homeowners to move into their new property without the stress of extra outgoings.