Consumers already using Christmas savings accounts
22 January 2010 17:13:51
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| Savings accounts are already being used ahead of Christmas 2010. |
According to Yorkshire Building Society, over £3m has already been deposited into its Christmas Saver account, which enables forward thinkers to benefit from a fixed interest rate of 3.5%.
The product allows savers to set aside up to £1,200 throughout the year, safe in the knowledge that their festive fund will be growing until December 2010.
Sarah Lawrence, senior product manager for savings at Yorkshire Building Society, commented: "It's great news that people are already getting into the savings habit for Christmas 2010.
"Whilst I'm sure next Christmas is the last thing on many people's minds, there's no better time than the present to start saving."
Timely preparation may be prudent if recent spending figures from Sainsbury's Finance are anything to go by.
The company calculated that shoppers spent around £1.37bn on Christmas Eve alone in 2009, despite the pressures placed on people's wallets by the recession.
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