A building society has launched a new version of a popular bank account allowing customers to get free payments to help with the cost of next Christmas. Yorkshire Building Society’s Christmas Regular Saver offers a healthy 5% interest and allows customers to deposit up to £150 a month.
This allows them to build up a pot of cash and make interest on it at the same time – meaning they get extra payments. Customers can access their savings on one day in the year without a penalty, or to close the account if required.
The aim is to help families plan for Christmas far in advance, as it is a time when people often feel financial pressure. Having a pot of cash to fall back on could help ease these worries.
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Finance experts are also urging Brits to look at the best savings accounts to help grow their money faster and effectively bag free cash. Harry Walker, senior savings manager at Yorkshire Building Society, said: “Our new Christmas Regular Saver encourages people to save money and help to spread the cost of Christmas.
“For those new to saving, using the regular saver will give shoppers a healthy sum to draw on for Christmas 2025 without having to rely on credit. For some people, it may also show that saving regularly can be achievable and if the habit is maintained after Christmas, a healthy savings pot can be built.
“With our recent data showing such large amounts are held in accounts paying 1% or less, the start of a new year provides the perfect opportunity to take a close look at your finances and how you could make small changes which add up to much bigger returns. It doesn’t matter how you choose to go about it, making just one positive change to your finances, could make a big difference in the long-term.
“The Christmas Regular saver has proved popular in the past years with last year’s account supporting over 20,000 savers to put away an average balance of £1,070 towards the cost of their 2024 Christmas spending. We’re really proud to offer this popular account again this year, which encourages saving little and often, and also offers a competitive return.”