The new bond, which will mature on 1 April 2019, joins Skipton’s existing two-year fixed-rate offering, which gives savers a competitive annual interest rate of 1.5%.
Jim Coupe, the firm’s Managing Director, commented: “As a small bank, we are able to keep our costs down and in turn pass savings directly onto our customers.
“Our new bond is once again one of the most competitive on the market, an achievement we strive to maintain.”
The launch comes among what the Skipton team has described as “exciting times”, as the firm has recently invested £2.5million in upgrading their banking platform to provide customers with a more efficient and accessible banking service.
The new system will enable Skipton to introduce online access for customers.
