Major building society launches competitive savings account with 6% interest rate

Yorkshire Building Society has relaunched its £50 Regular Saver for UK Savings Week.

This is the second year that the lender has utilised the initiative, with the account providing a six per cent variable interest rate.

It allows customers to make monthly deposits of up to £50 across a year-long term.

Pete Lewis, senior savings manager at Yorkshire Building Society, said: "We want to inspire a save-first, buy-later mindset helping people put money aside before they spend, so they can reach their goals without falling into debt."

The terms of the account state that customers get three penalty-free withdrawals throughout the period, with additional flexibility for those who need to close their account early.

It comes as Nationwide customers are set to be affected by changes to bank acco