SKIPTON Building Society has launched a new savings account which overtakes NS&I’s 1.16 per cent offering.

Skipton’s new Online Bonus Saver will pay 1.20 per cent including a 0.50 per cent bonus for the first 12 months, with customers able to open the account with £1.

Maitham Mohsin, Skipton Building Society’s head of savings, said “We want to continue to help the nation save and are delighted to introduce our new Online Bonus Saver. This product takes us straight to the top of the Best Buys for instant access overtaking NS&I’s income bond.

“We know everyone is finding the current situation difficult but we’re proud to continue our commitment to offer customers great value savings products.”

For more information, please visit the savings pages of skipton.co.uk and https://www.skipton.co.uk/savings