Bank helping to ease the cost of festive season

The first Yorkshire Building Society Christmas account was launched in 2009, allowing members to make regular deposits over the course of the year.

Offering a fixed rate of 3.50 per cent, members can invest up to £1,200 per account, either in a lump sum, by making regular deposits or paying in spare cash as and when they have it.

Maturing on December 1 2012, savers who have invested in the product will then be able to access their money in time for next Christmas.

Lynne Pepper, product manager at the Yorkshire, said; “We all feel the pinch at Christmas as the demands on our pay packet increase – be it due to a mounting present list, additional nights out with friends and family or simply the added costs of our daily food bills and the Christmas turkey.

“Therefore, our Christmas Saver is the perfect way to start thinking ahead for next year to take off some of the pressure.”

Following its merger with N&P last month, the Yorkshire now has 224 branches, 91 agencies and assets of approximately £33bn.

It employs around 3,850 staff and has 3.5m members.