- 4.05% gross per year/AER variable on the first £10,000 and
- 2.95% gross per year/AER variable only on the amount above £10,000
Online Rainy Day Account
- Open from £1Save up to £500,000
- Interest is paid once a yearOn 31 March
Summary Box
What is the interest rate?
| Balance | Gross interest rate per year We do not take off income tax. | Annual Equivalent Rate (AER) |
|---|---|---|
| £1 to £10,000 | 4.30% | 4.30% |
| £10,000.01 and over | 3.20% | 3.20% |
- 4.05% gross per year/AER variable on the first £10,000 and
- 2.95% gross per year/AER variable only on the amount above £10,000
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?
| Deposit | Estimated balance |
|---|---|
| £1,000 | £1,043 |
| £20,000 | £20,750 |
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.
- 4.05% gross per year/AER variable on the first £10,000 and
- 2.95% gross per year/AER variable only on the amount above £10,000
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 £500,000.
Can it be a joint account?
Yes.
How do I open this account?
You can open it online.
Can I open more than one?
No.
If you open this account, you cannot open the branch version of the same account as well. The branch version is called 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 online or on our mobile app.
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.
For security reasons, you cannot withdraw money for the first 14 days after you open the account.
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
Whether you need to pay tax depends on your personal circumstances so could change in the future.
Ready to apply?
Please read the following documents.
Don't want to apply online?
Check out our Rainy Day Account. You can open this account in a branch or agency, or by post.
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.
