The Branch Notice Saver account will guarantee to exceed the Bank of England base rate plus 0.25% for the first year. The new account can be opened and operated exclusively through Scarborough’s nine branches, spanning Yorkshire, the North East, Lincolnshire and East Midlands.
The minimum opening balance is GBP1,000 and customers are required to give 80 days notice for withdrawals, or access their cash instantly with 80 days loss of interest.
David Wormall, head of group marketing at Scarborough Building Society, said: As a mutual, our commitment to offering our members long term, good value products is reflected in our consistent mentions in best buy tables
With the current uncertainty over whether interest rates will change before the end of the year, this account offers customers the certainty of a competitive rate, combined with a guaranteed rate in year one.
