Family Savings Accounts 1 savings accounts found
 
Account Name Interest Rate Open from Withdrawals Additional information

Family Savings Account

1.50%

Gross p.a./AER variable on balances up to £10000

1.00%

Gross p.a./AER variable on balances over £30000.01

£1

 Three withdrawal days permitted per year, subject to daily withdrawal limits and closure allowed at any time
  • Three year term, based on anniversary of account opening date
  • 4-tiered interest rate - You earn different rates of interest on the proportions of your balance within each interest tier
  • Blended interest rate is used as this product has more than one interest rate tier, and different rates are paid on proportions of your balance within each interest tier
  • Monthly Interest
  • One account per customer
 Apply Online Apply - Branch/Post

Family Saver Accounts

1.50%

Gross p.a./AER variable on balances up to £10000

1.00%

Gross p.a./AER variable on balances over £30000.01

  • Three year term, based on anniversary of account opening date
  • 4-tiered interest rate - You earn different rates of interest on the proportions of your balance within each interest tier
  • Blended interest rate is used as this product has more than one interest rate tier, and different rates are paid on proportions of your balance within each interest tier
  • Monthly Interest
  • One account per customer
Apply - Branch/Post

Family Saver is a flexible tiered interest savings account designed to help you grow a future savings pot for your family needs. We know thinking about the future can be tricky but preparing and planning for your family’s future can support generations achieve their life goals.

We understand that as parents, grandparents and carers supporting your loved ones comes in different ways and putting money to one side could be one way of helping to build the best future for them, whether that’s saving towards long term goals of higher education, supporting the purchase of their first home or paying for a wedding, helping them reach those life goals can be supported by building a savings pot.

Establishing a savings habit can be hard, especially at the moment, that’s why we are supporting families to build their savings. This new account rewards those working on their financial resilience by introducing our blended interest rates, paying a higher interest on lower balances whilst still rewarding savers as your balance grows. There’s more information on how the blended interest tiers work, and also the full terms and conditions for the account, below.

We know life plans don’t always go to plan so the Family Savings Account is as flexible as your life is changeable so if the unexpected happens you can access your funds on three days a year if you need to.

What can I do to help my family?

Earlier this year, we conducted research with people from different places and backgrounds to understand their thoughts around the current impacts on their financial well-being in light of the cost of living crisis. We also spoke with children and young people aged 11-18. The Inflation Nation report highlighted that a third of adults would feel more financially resilient if they had an increased amount of cash savings available for their future.

The research we did with children and young adults was conducted as the Society launches its new Money Minds online financial education platform also highlighted that three quarters of them trusted their parents and guardians to manage their money and had already started to think about savings towards future life goals such as first cars, house deposits, higher education and university costs. Over a third though, were worried about not being able to buy a house.

Families across the UK are already having to budget carefully in order to cope with the rising cost of living. Whatever your current financial situation, find out how you can take action now in order to limit the damage the cost of living crisis could cause.

Example how blended interest calculations works

The information and illustrations below are examples only and are designed to help you understand what blended interest rates are and how we work them out. The deposit balances and interest rates we’ve used don’t reflect your personal savings account(s).

Products with two interest tiers

Balance up to £20,000 £20,000.01 and above
1.50% 0.50%

This means if you save more than £20,000 in this account you will earn interest across two tiers and this will be calculated using a blended rate of interest.

For example, a balance of £30,000 earns interest across two tiers; the first £20,000 earns 1.50% interest and the additional £10,000 earns 0.50%. The blended rate is 1.17% and after 12 months, your estimated balance would be £30,351 using this rate.

This assumes the £30,000 deposit is made on account opening, no further deposits or withdrawals are made throughout the 12 months, the interest earned is added to the account and no changes made to the current interest rate.

Products with three interest tiers

Balance up to £20,000 £20,000.01 to £30,000 £30,000.01 and above
2.00% £1.00% 0.50%

This means if you save more than £30,000 in this account you will earn interest across three tiers and this will be calculated using a blended rate of interest.

For example, a balance of £40,000 earns interest across three tiers; the first £20,000 earns 2.00% interest, the next £10,000 earns 1.00% and the remaining £10,000 earns 0.50%. The blended rate is 1.38% and after 12 months, your estimated balance would be £40,552 using this rate.

This assumes the £40,000 deposit is made on account opening, no further deposits or withdrawals are made throughout the 12 months, the interest earned is added to the account and no changes made to the current interest rate.

Products with four interest tiers

Balance up to £20,000 £20,000.01 to £40,000 £40,000.01 to £50,000 £50,000.01 and above
2.00% 1.00% 0.75% 0.5%

This means if you save more than £50,000 in this account you will earn interest across four tiers and this will be calculated using a blended rate of interest.

For example, a balance of £60,000 earns interest across four tiers; the first £20,000 earns 2.00% interest, the next £20,000 earns 1.00%, the next £10,000 earns 0.75% and the remaining £10,000 earns 0.50%. The blended rate is 1.13% and after 12 months, your estimated balance would be £60,678 using this rate.

This assumes the £60,000 deposit is made on account opening, no further deposits or withdrawals are made throughout the 12 months, the interest earned is added to the account and no changes made to the current interest rate.

Other accounts

Why not take a look at our other types of savings accounts?​​​​​​

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See how our Savings Pledges could support you

Help & support

Find out more about how to open accounts, make deposits and access your money.​​​​​​

Our new savings app

A simpler way to access your savings accounts on phone or tablet - with all the security you've come to expect.

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You're protected!

Your eligible deposits with Yorkshire Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.

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Account Name Make Me A Saver

What is the interest rate?

This product pays a variable** rate of interest of:

Annual interest

Gross† p.a. AER*
1.00% 1.00%

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.

* AER stands for the Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

** Variable rate of interest means that the interest rate payable on your account can change and can move both up and down.

Payment of interest

  • Interest calculated daily on cleared balances.
  • Interest is paid into the Make Me A Saver account on the 31st January 2023.

Can Yorkshire Building Society change the interest rate?

Yes. We may change the interest rate for particular reasons, detailed in our General Terms & Conditions. We will notify you in advance of any changes.

What would be the estimated balance after 12 months based on £150 per month deposits?

£150 per month saved at 1.00% gross† p.a./AER* would lead to a balance of £1809.79 at the end of 12 months. We have worked this out assuming a £150 deposit is made on the first day of each month throughout the 12 months the account is held. No withdrawals are made, the interest earned is added to the account and no changes are made to the current interest rate.

This is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

Eligibility

  • You must be aged 16 or over and live in England, Scotland or Wales to open the account. We may close your account if you’re not living in one of these countries. You may not open an account if you live in Northern Ireland due to the law governing prize draws in that country.
  • You can only have one Make Me A Saver account in your name at any time and cannot open the account in trust for another person. If you open the account in joint names, only the main account holder will be counted as having opened one account. The secondary account holder may still open another Make Me A Saver account. You are not eligible for this account if you are an employee for the Yorkshire Building Society.
  • If you are named a main account holder on more than one Make Me A Saver account, the most recent account opened will be transferred to the Easy Saver Issue 4.

Account opening and management

Accounts can be opened with a minimum of £1 in the following ways:

  • In a branch or at an agency.
  • By calling your nearest branch or agency.
  • Or requesting a call back or application pack from your nearest branch or agency via ybs.co.uk.

The account can be managed in branch, at an agency, by post or online.

The maximum balance (excluding interest) is £1,950 at the end date of 31st January 2023.

Account switching

It is not possible to transfer an existing Yorkshire or Chelsea Building Society account to this product.

Deposits

The maximum deposit is £150 per calendar month until 31st January 2023. If you deposit more than £150 in any calendar month, we will return the overpayment within 10 days. If payments are made by standing order, please ensure your bank sets up your standing order to allow sufficient time for payments to reach your account within each calendar month.

Interest calculated on your account balance and any prize draw winnings that may be paid into your account, do not count towards this £150 limit. Please see the 'Full Prize Draw terms' below, for details on entering our prize draw.
Can I withdraw money?

Withdrawals

The Make Me A Saver account allows unlimited instant withdrawals and maintaining a minimum balance of £1, without loss of interest. Withdrawals are subject to daily withdrawal limits shown below. If you withdraw money during a calendar month, you may need to repay some or all of it back during the same calendar month to be eligible for the prize draw. For more details see the ‘Full Prize Draw terms’ below. Please be aware if a withdrawal is made from the account by CHAPS a charge of £23.50 will be incurred. Proof of name ID will be required.

Maturity

On 1st February 2023, your savings will be transferred to the Easy Saver Issue 4 account and you will have easy access to your funds.

Additional Information

The account is passbook record card based. You should try and have your record card updated at least once a year.

FULL PRIZE DRAW TERMS AND CONDITIONS

1

Prize Draws

This promotion is open for entries between 19th January 2022 until 31 December 2022 inclusive (the "Entry Period").

Prize draws will take place on the 3rd of each calendar month, starting from March 2022 and ending January 2023. A total of 11 prize draws. If a prize draw can’t take place on the scheduled date for whatever reason, we’ll hold it as soon as we can thereafter.

2

Eligibility for the prize draw?

To qualify for entry into each prize draw:

  • Your Make Me A Saver or Make Me A e-Saver (the “Account”) must still be open during the Entry Period;
  • You must meet the eligibility conditions for holding the Account (see the section on ‘eligibility’ in the Summary Box); and
  • You cannot be an employee for the Yorkshire Building Society. If you become an employee for the Yorkshire Building Society during the Entry Period, you will not be entered into any of the monthly prize draws.
3

How do I qualify for entry into a prize draw?

To enter any prize draw, the balance on your Account must increase by at least £50, but no more than £150 during the calendar month immediately preceding the relevant prize draw; known as the (“the Qualifying Month”) during the Entry Period (“the Entry Requirement”).

For example, to qualify for entry into the April 2022 prize draw, your Account balance must have increased by at least £50 but no more than £150 during the Qualifying Month of March 2022.

If you open the Account with £50, you do not need to increase the balance a further £50 during the same calendar month that you opened the Account to qualify for the following prize draw.

The increase of your Account balance is calculated by comparing the balance in cleared funds at the end of a Qualifying Month with the balance in cleared funds at the start of that Qualifying Month. Save for the prize draw in March 2022 where we will compare the balance in cleared funds at the end of February 2022 with the balance in cleared funds at 19th January 2022.

This means that if you take money out of your Account during a Qualifying Month, you may need to pay some or all of it back in to ensure that your Account balance has increased by £50 from the start of that Qualifying Month, to qualify for entry into a prize draw.

Not increasing your Account by at least £50 in a calendar month does not disqualify you for entry into any subsequent prize draws. For example, if you increase your Account by £10 in May 2022, you will not qualify for the draw in June 2022 but will have the option of entering any following prize draw, subject to meeting the Entry Requirements.

Please see the table below as an example of qualified and disqualified entries into the prize draw:

Balance at start of Qualifying Month Amount withdrawn Amount paid in Balance at end of Qualifying Month Amount Eligible for prize draw the following month
£150 £10 £70 £210 Yes (an increase of £60)
£800 £100 £140 £840 No (an increase of only £40)

 

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  4. When won't I be entered into a prize draw?

    You will not be entered into a prize draw in the same calendar month in which you open an Account. For example, if you open your Account on 2nd March 2022, you will not be entered into the prize draw taking place 3rd March 2022. However, you will be eligible for the prize draw in April 2022 if you meet the eligibility conditions and Entry Requirements for that Qualifying Month.

    We won’t enter your Account into a prize draw if your balance hasn’t increased by at least £50.00 in any Qualifying Month during the Entry Period before a prize draw.

    We will not enter you into the prize draw if your Account is not open or if you are not living in England, Scotland or Wales on the day of any prize draw.

    You cannot be an employee for the Yorkshire Building Society and have an Account. If you become an employee for the Yorkshire Building Society during the Entry Period, you will no longer qualify to be entered into any of the monthly prize draws.

  5. Choosing Winners

    Winners of each prize draw will be chosen at random from all Accounts entered into the draw. We’ll use an automated computer process to do this.

  6. The prizes

    The prize for each winner will be £1,500. Ten winners will be selected for each monthly prize draw. If your Account qualifies for an entry into a monthly prize draw and there are 3,000 other qualifying accounts, your chance of winning is 1/300.

  7. Winners

    We will notify the winners in writing within 30 days of a prize draw. Any Accounts held by more than one person will be counted as one, and any prize will apply to all of you together. Your prize funds will be transferred to your Account within 30 days of a prize draw.

    To indicate that a valid prize draw took place, we may share your surname and the county you reside to anyone who requests within one month of a prize draw. If you object to any or all your surname, county and winning entry being published or made available, please let us know. We may still provide the information and winning customer to the Advertising Standards Authority on request. We may also contact you in respect of post-prize draw publicity events.

4

When won't I be entered into a prize draw?

You will not be entered into a prize draw in the same calendar month in which you open an Account. For example, if you open your Account on 2nd March 2022, you will not be entered into the prize draw taking place 3rd March 2022. However, you will be eligible for the prize draw in April 2022 if you meet the eligibility conditions and Entry Requirements for that Qualifying Month.

We won’t enter your Account into a prize draw if your balance hasn’t increased by at least £50.00 in any Qualifying Month during the Entry Period before a prize draw.

We will not enter you into the prize draw if your Account is not open or if you are not living in England, Scotland or Wales on the day of any prize draw.

You cannot be an employee for the Yorkshire Building Society and have an Account. If you become an employee for the Yorkshire Building Society during the Entry Period, you will no longer qualify to be entered into any of the monthly prize draws.

5

Choosing Winners

Winners of each prize draw will be chosen at random from all Accounts entered into the draw. We’ll use an automated computer process to do this.

6

The prizes

The prize for each winner will be £1,500. Ten winners will be selected for each monthly prize draw. If your Account qualifies for an entry into a monthly prize draw and there are 3,000 other qualifying accounts, your chance of winning is 1/300.

7

Winners

We will notify the winners in writing within 30 days of a prize draw. Any Accounts held by more than one person will be counted as one, and any prize will apply to all of you together. Your prize funds will be transferred to your Account within 30 days of a prize draw.

To indicate that a valid prize draw took place, we may share your surname and the county you reside to anyone who requests within one month of a prize draw. If you object to any or all your surname, county and winning entry being published or made available, please let us know. We may still provide the information and winning customer to the Advertising Standards Authority on request. We may also contact you in respect of post-prize draw publicity events.

Account Name Make Me A e-Saver

What is the interest rate?

This product pays a variable** rate of interest of:

Annual interest

Gross† p.a. AER*
1.00% 1.00%

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

* AER stands for the Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

** Variable rate of interest means that the interest rate payable on your account can change and can move both up and down

Payment of interest

  • Interest calculated daily on cleared balances.
  • Interest is paid into the Make Me A e-Saver account on the 31st January 2023.

Can Yorkshire Building Society change the interest rate?

Yes. We may change the interest rate for particular reasons, detailed in our General Terms & Conditions. We will notify you in advance of any changes.

What would be the estimated balance after 12 months based on £150 per month deposits?

£150 per month saved at 1.00% gross† p.a./AER* would lead to a balance of £1809.79 at the end of 12 months. We have worked this out assuming a £150 deposit is made on the first day of each month throughout the 12 months the account is held. No withdrawals are made, the interest earned is added to the account and no changes are made to the current interest rate.

This is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

Eligibility

  • You must be aged 16 or over and live in England, Scotland or Wales to open the account. We may close your account if you’re not living in one of these countries. You may not open an account if you live in Northern Ireland due to the law governing prize draws in that country.
  • You can only have one Make Me A e-Saver account in your name at any time and cannot open the account in trust for another person. If you open the account in joint names, only the main account holder will be counted as having opened one account. The secondary account holder may still open another Make Me A e-Saver account. You are not eligible for this account if you are an employee for the Yorkshire Building Society.
  • If you are named a main account holder on more than one Make Me A e-Saver account, the most recent account opened will be transferred to the Easy e-Saver Issue 2.

Account opening and management

Accounts can be opened online at ybs.co.uk with a minimum of £1.

The account can be managed online you will be able to check your balance, interest rates, make and view transactions on your account online whenever you wish.

The maximum balance (excluding interest) is £1,950 at the end date of 31st January 2023.

Account switching

It is not possible to transfer an existing Yorkshire or Chelsea Building Society account to this product.

Deposits

The maximum deposit is £150 per calendar month until 31st January 2023. If you deposit more than £150 in any calendar month, we will return the overpayment within 10 days. If payments are made by standing order, please ensure your bank sets up your standing order to allow sufficient time for payments to reach your account within each calendar month.

Interest calculated on your account balance and any prize draw winnings that may be paid into your account, do not count towards this £150 limit. Please see the 'Full Prize Draw terms' below, for details on entering our prize draw.
Can I withdraw money?

Withdrawals

The Make Me A e-Saver account allows unlimited instant withdrawals, withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1, without loss of interest. If you withdraw money during a calendar month, you may need to repay some or all of it back during the same calendar month to be eligible for the prize draw. For more details see the ‘Full Prize Draw terms’ below.

For security reasons, online withdrawals are not available for the first 14 days after your account has been opened. After 14 days withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.

Maturity

On 1st February 2023, your savings will be transferred to the Easy e-Saver Issue 2 account and you will have easy access to your funds.

Additional Information

We will generally communicate with you via email. It is very important that you notify us if your e-mail address changes. You can change your contact details (postal address, email and telephone) when you are logged in. To change your name you will need to write, enclosing proof of the change, to Savings Service, Yorkshire Building Society, Yorkshire House, Bradford, West Yorkshire, BD5 8LJ.

FULL PRIZE DRAW TERMS AND CONDITIONS

1

Prize Draws

This promotion is open for entries between 19th January 2022 until 31 December 2022 inclusive (the "Entry Period").

Prize draws will take place on the 3rd of each calendar month, starting from March 2022 and ending January 2023. A total of 11 prize draws. If a prize draw can’t take place on the scheduled date for whatever reason, we’ll hold it as soon as we can thereafter.

2

Eligibility for the prize draw?

To qualify for entry into each prize draw:

  • Your Make Me A Saver or Make Me A e-Saver (the “Account”) must still be open during the Entry Period;
  • You must meet the eligibility conditions for holding the Account (see the section on ‘eligibility’ in the Summary Box); and
  • You cannot be an employee for the Yorkshire Building Society. If you become an employee for the Yorkshire Building Society during the Entry Period, you will not be entered into any of the monthly prize draws.
3

How do I qualify for entry into a prize draw?

To enter any prize draw, the balance on your Account must increase by at least £50, but no more than £150 during the calendar month immediately preceding the relevant prize draw; known as the (“the Qualifying Month”) during the Entry Period (“the Entry Requirement”).

For example, to qualify for entry into the April 2022 prize draw, your Account balance must have increased by at least £50 but no more than £150 during the Qualifying Month of March 2022.

If you open the Account with £50, you do not need to increase the balance a further £50 during the same calendar month that you opened the Account to qualify for the following prize draw.

The increase of your Account balance is calculated by comparing the balance in cleared funds at the end of a Qualifying Month with the balance in cleared funds at the start of that Qualifying Month. Save for the prize draw in March 2022 where we will compare the balance in cleared funds at the end of February 2022 with the balance in cleared funds at 19th January 2022.

This means that if you take money out of your Account during a Qualifying Month, you may need to pay some or all of it back in to ensure that your Account balance has increased by £50 from the start of that Qualifying Month, to qualify for entry into a prize draw.

Not increasing your Account by at least £50 in a calendar month does not disqualify you for entry into any subsequent prize draws. For example, if you increase your Account by £10 in May 2022, you will not qualify for the draw in June 2022 but will have the option of entering any following prize draw, subject to meeting the Entry Requirements.

Please see the table below as an example of qualified and disqualified entries into the prize draw:

Balance at start of Qualifying Month Amount withdrawn Amount paid in Balance at end of Qualifying Month Amount Eligible for prize draw the following month
£150 £10 £70 £210 Yes (an increase of £60)
£800 £100 £140 £840 No (an increase of only £40)

Interest calculated on your Account balance and any prize draw winnings that may be paid into your Account, do not count towards the £50 increase in balance you will need to be entered into the prize draw.

An eligible and qualifying Account gives you one entry into each prize draw. If you qualify for entry into the prize draw meeting the Entry Requirement, you will automatically be entered into the prize draw.

4

When won't I be entered into a prize draw?

You will not be entered into a prize draw in the same calendar month in which you open an Account. For example, if you open your Account on 2nd March 2022, you will not be entered into the prize draw taking place 3rd March 2022. However, you will be eligible for the prize draw in April 2022 if you meet the eligibility conditions and Entry Requirements for that Qualifying Month.

We won’t enter your Account into a prize draw if your balance hasn’t increased by at least £50.00 in any Qualifying Month during the Entry Period before a prize draw.

We will not enter you into the prize draw if your Account is not open or if you are not living in England, Scotland or Wales on the day of any prize draw.

You cannot be an employee for the Yorkshire Building Society and have an Account. If you become an employee for the Yorkshire Building Society during the Entry Period, you will no longer qualify to be entered into any of the monthly prize draws.

5

Choosing Winners

Winners of each prize draw will be chosen at random from all Accounts entered into the draw. We’ll use an automated computer process to do this.

6

The prizes

The prize for each winner will be £1,500. Ten winners will be selected for each monthly prize draw. If your Account qualifies for an entry into a monthly prize draw and there are 3,000 other qualifying accounts, your chance of winning is 1/300.

7

Winners

We will notify the winners in writing within 30 days of a prize draw. Any Accounts held by more than one person will be counted as one, and any prize will apply to all of you together. Your prize funds will be transferred to your Account within 30 days of a prize draw.

To indicate that a valid prize draw took place, we may share your surname and the county you reside to anyone who requests within one month of a prize draw. If you object to any or all your surname, county and winning entry being published or made available, please let us know. We may still provide the information and winning customer to the Advertising Standards Authority on request. We may also contact you in respect of post-prize draw publicity events.