Rainy Day Account

What is the interest rate?

You will get a higher interest rate on the first £10,000 of your balance. The lower interest rate is only on the amount of your balance that is above £10,000. For example, say you had £20,000 in your account. The first £10,000 would earn 4.30% interest, and the next £10,000 would earn 3.20% interest.

AER helps you compare between accounts. It's the rate of interest if it was paid and added each year.

The interest rate is variable and can go up or down.

We work out your interest daily. It is paid on 31 March each year.

Can Yorkshire Building Society change the interest rate?

Yes, we can change the interest rate up or down. We will let you know if this happens.

The reasons why we could do this and how we will let you know, are in the General terms and conditions. You can find them in the "Interest, charges and changes" section.

What would the estimated balance be after 12 months based on £1,000 and £20,000 deposits?

We have based this on:

• the deposit added the day you opened the account
• the interest rate staying at 4.30% gross per year/AER variable on the first £10,000 and 3.20% gross per year/AER variable only on the amount above £10,000
• no money being taken out
• no extra money added in.

How do I open and manage my account?

To open this account you must be:

• a UK resident
• at least 16 years old.

How much can I save?

You can save from £1 to £2 million.

Can it be a joint account?

Yes.

How do I open this account?

You can open this account by:

• visiting your nearest branch or agency
• downloading an application form and posting it to us
• calling us and we'll send you an application form in the post.

Can I open more than one?

You can only have one in your name. You can also have a joint account, if it's in someone else's name.

If you open this account, you cannot open the online version of the same account as well. The online version is called Online Rainy Day Account Issue 2.

If you open more than one in your name, the most recent account will be closed. We'll return the money to you.

How can I manage my account?

You can manage your account in a branch or agency, or by post.

You can also register to manage your account online.

Can I withdraw money?

You can withdraw money from this account on any 2 days a year, starting from the day you opened it. For example, if you opened the account on 2 May you have until 1 May the next year to make your withdrawals. Check our daily withdrawal limits.

If you make a withdrawal using CHAPS, there will be a fee.

To keep your account open, you need at least £1 in your account.

You can close your account at any time.

Additional information

You'll get a passbook record card when you open this account. It is a physical card that a branch or agency can update with your transactions.

Whether you need to pay tax depends on your personal circumstances so could change in the future.