We've redesigned our website to improve your experience. You may see some pages with the old design, until we’ve updated them all.

Community Saver

Earn 2.90% AER variable on your savings

  • 2.90% gross pa/AER variable (annual interest)
  • 2.86% gross / 2.90% AER variable (monthly interest)
Summary Box Ready to apply

This account might be right for you if you:

  • are happy with a variable interest rate that can go up or down.
  • are saving for a club, society, association, church or charity which isn't a corporate body.
  • are aged 18 or over.

Summary Box

It is important that you read all parts of the Summary Box before you apply.

Account Name

Community Saver

What is the interest rate?

Annual interest:

2.90% tax-free pa/AER

Monthly interest:

2.86% tax-free / 2.90% AER

  • This account earns interest daily.
  • If you choose annual interest, it’s added to the account the day before the anniversary of account opening.
  • If you choose monthly interest, it’s added to the account the day before the same date in the month your account was opened or, if there’s no such date, on the last day of the month. For example, if your account was opened on the 6th of the month, monthly interest would be added on the 5th.
  • If you ask us to pay interest to another account, we’ll pay it on the first business day after the day we’d have added it to this account. Business days exclude Saturday, Sunday and bank holidays.

Can Skipton Building Society change the interest rate?

  • Yes, the interest rate is variable, so it can go up or down.
  • Section 8 of our Savings Account Terms and Conditions [PDF] explains why we may change the interest rate.
  • If you have at least £100 in your account, we'll notify you in advance if we intend to reduce your interest rate.

What would the estimated balance be after 12 months based on a £1,000 deposit?

The estimated balance after 12 months would be £1,029, assuming that:

  • the account is opened with £1,000 and starts earning interest straight away.
  • no further deposits or withdrawals are made.
  • the interest is paid annually.
  • the interest is added to this account.
  • there is no change to the interest rates stated.

Estimated balances are for illustrative purposes only. They may be less for accounts opened by debit card or cheque, because interest won’t be earned until your account receives the deposit.

How do I open and manage my account?

  • This account is available to UK residents aged 18 or over. It’s not for corporate bodies or business traders.
  • The account can be opened and managed in branch or post.
  • You can have up to four people acting as signatories or trustees for the account.
  • The minimum opening and operating balance for this account is £1. You must keep at least this amount in the account at all times.
  • Subsequent payments in can be made from £1.
  • The maximum balance for this account is £1 million.

Can I withdraw money?

  • Yes, you can withdraw in branch or by post, subject to the £1 minimum operating balance. The minimum withdrawal amount is £1.
  • You don’t need to give us notice before you withdraw and there are no penalties.
  • If you withdraw by electronic payment this must be made to a UK bank or building society in your own name(s). We won’t make an electronic payment to any other type of account.

Additional information

  • The Annual Equivalent Rate (AER) shows what the interest rate would be if interest was paid and added each year.
  • We pay all savings interest gross, which means no tax is deducted. It’s your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.
  • Accounts can be withdrawn from sale at any time and without notice.

Before you apply

  • You may need to prove your identity - to find out more about this, please read How to prove your name and address [PDF]
  • We'll also need a signed mandate from your club or charity's representatives on their letterhead confirming who can hold and manage the account. In some circumstances, we may need to ask for more information
  • Read these documents in full:

Community Saver Terms and Conditions [PDF]

Savings Account Terms and Conditions [PDF]

How to apply

In Branch

Pop to your nearest branch or make an appointment

By Post

Download our Community Saver postal application form [PDF] and post it to us

Savings Operations
Skipton Building Society
The Bailey
Skipton
BD23 1DN

You're protected up to £85,000

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

Learn more about the FSCS