Offset Savings Account | Savings Accounts | YBS
What is an offset savings account?
Offset savings accounts are instant access accounts that are linked to your offset mortgage. The money in your savings account offsets the balance on your mortgage.
Key features
Summary Box
Account name | Offset Savings | ||||
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What is the interest rate? | This account pays a variable** rate of interest of: Annual
Whether you need to pay tax is dependent on your own personal circumstances and so may be subject to change in the future. † Interest is paid gross i.e. without tax being taken off on all our savings accounts - ISA accounts pay interest tax-free. |
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Can Yorkshire Building Society change the interest rate? | Not applicable for this account. |
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What would be the estimated balance after 12 months based on £100 per month deposits? | Not applicable for this account. The balance in this account will be offset against the balance of your Yorkshire Building Society Offset mortgage for the purposes of calculating interest on your mortgage. |
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How do I open and manage my account? | Eligibility The Offset Savings account is only available in conjunction with a Yorkshire Building Society Offset mortgage. Account management The account can be managed in branch, by post and online. Accounts can be opened with a minimum of £zero. The maximum balance is up to 100% of your Offset mortgage balance. |
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Can I withdraw money? | Withdrawals Maturity |
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Additional information | We will provide statements at least once a month where transactions have taken place within the previous 30 days. |
How to apply
Apply for an offset mortgage
When we send you your mortgage offer, we'll also send you a pre-completed offset savings application form for each account you've requested.
Sign and return the forms we send you
Not ready to apply yet?
More about offset mortgages
Financial Services Compensation Scheme
The FSCS is the UK's deposit guarantee scheme. The scheme protects up to £85,000 of your YBS eligible deposits.
More about the Financial Services Compensation Scheme.