First Home eSaver
- Only for customers saving to buy their first home
- Open from £1Save up to £500 a month for 2 years
- Interest is paid once a year
How much interest could you earn?
Here's how much you could get after 24 months:
| Balance | Interest earned |
|---|---|
| £12,595.93 | £595.93 |
This estimate is based on:
- deposits made on the first of every month starting 1 January 2025
- the interest rate staying the same
- no money being taken out
- no extra money added in.
Summary Box
What is the interest rate?
Gross interest rate per year We do not take off income tax. | Annual Equivalent Rate (AER) |
|---|---|
| 4.70% | 4.70% |
AER helps you compare between accounts. It's the rate of interest if it was paid and added each year.
The interest rate is variable and can go up or down.
We work out your interest daily. It is paid once a year on the anniversary of when you opened the account.
Can Yorkshire Building Society change the interest rate?
Yes, we can change the interest rate up or down. We will let you know if this happens.
The reasons why we could do this and how we will let you know, are in the General terms and conditions. You can find them in the "Interest, charges and changes" section.
What would the estimated balance be after 24 months based on £500 a month deposits?
£12,595.93
We have based this on:
- deposits made on the first of every month starting 1 January 2025
- the interest rate staying the same
- no money being taken out.
How do I open and manage my account?
To open this account you must be:
- a UK resident
- at least 16 years old
- saving to buy your first home.
If you're not saving for your first home, we can transfer your money to an online easy access savings account.
How much can I save?
You can open this account from £1 and save up to £500 each calendar month. This would be a maximum of £12,000 in 2 years, before your interest was added.
If you add more than £500 in a month, we will return the overpayment to you.
Can it be a joint account?
Yes.
How do I open this account?
You can open it online.
Can I open more than one?
No.
If you open this account, you cannot open the branch version of the same account as well. The branch version is called First Home Saver.
If you open more than one in your name, the most recent account will be closed. We'll move it to an online easy access savings account.
How can I manage my account?
You can manage your account online or on our mobile app.
Can I withdraw money?
You can withdraw money from this account on any 1 day a year, starting from the day you opened it. For example, if you opened the account on 2 May you have until 1 May the next year to make your withdrawal.
For security reasons, you cannot withdraw money for the first 14 days after you open the account.
If you make a withdrawal using CHAPS, there will be a fee.
To keep your account open, you need at least £1 in your account.
You can close your account at any time.
What happens after two years?
Your First Home eSaver will be transferred to an online easy access savings account. We'll send you full details of this account at least 14 days before your First Home eSaver ends.
Additional information
Whether you need to pay tax depends on your personal circumstances so could change in the future.
Ready to apply?
Please read the following documents.
Don't want to apply online?
Check out our First Home Saver. You can open this account in a branch or agency, or by post.
Your eligible deposits with Yorkshire Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
