Our new Savvy Saver account can help you face the cost of Christmas

Savings, Regular savings

Before most people have even had time to break their New Year’s resolutions we have launched one of our highest ever rate savings accounts to help customers save for Christmas 2016.

Aptly named the Savvy Saver, the account offers a 5% rate (gross p.a./AER) on savings throughout the year. It is exclusively available through the Society’s branch network and can be opened with just £10.

Jon Cartlidge, our Senior Product Manager, said: “In its annual research into Christmas spending the national polling agency, YouGov, found that the average household was expecting to spend around £796 on Christmas 2015 – which represents a decrease of £24 on the
previous year. 

Food and drink were the main areas where people said they planned to make savings, with the average household saying they would spend around £159 – down from £174 in 2014.

“We know how difficult it can be to make saving for Christmas a priority when there are so many other bills to pay. Although interest rates have been low for a number of years we know that an increase may be just around the corner in 2016 and our incomes will be squeezed even further when this happens.

“One of the best ways to ease the burden of Christmas costs is to budget throughout the year. To help our customers do that we are offering a great rate of 5% - one of our best ever – to help make next Christmas extra special.

“Customers can save up to £100 per month and the account has a fixed end date of 12 December this year – just in time for the festive season.”

Savvy saver image

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