The high street lender has launched its new Christmas Regular Saver account, with a variable interest rate of five per cent to help customers save for their 2025 festive spending.
Major building society with three million members giving customers £1,500 this year
Yorkshire Building Society has launched a new variation of one of its most popular savings accounts which offers a “competitive return” for customers. The high street lender has launched its new Christmas Regular Saver account, with a variable interest rate of five per cent to help customers save for their 2025 festive spending.
The bank allows you to put away between £1 and £150 each month until October 2025. If you put away the maximum amount each month, you could save up to £1,500 and earn £34.23 in interest on top.
It comes after data last month showed people planned to spend an average of £774 in 2024 to cover cost of Christmas with over half (51%) of all respondents saying they would spend up to £1,000 on things such as gifts, food, decorations and entertaining.
READ MORE UK faces ‘six inches’ of snow with England hit on ‘five more dates’ in January
The society also owns the Chelsea Building Society and Norwich and Peterborough Building Society, as well as Accord Mortgages and the savings business of Egg, which are referred to as the Yorkshire Building Society Group. Collectively the group serves 3 million members.
The Christmas regular saver matures on 31 October 2025 giving access to the funds in time for Christmas spending and popular shopping events like the Black Friday sales. 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.”