DUE to unprecedented demand, Skipton Building Society has announced its best buy Online Bonus Saver has sold out and will be withdrawn at 4pm today.

Thousands of accounts were opened in the first 24 hours of sale as savers took advantage of the new account offering 1.20 per cent interest, including a 0.50 per cent bonus for the first 12 months, and went straight to the top of the Easy Access Best Buys, overtaking NS&I’s 1.16 per cent offering.

Maitham Mohsin, Skipton Building Society’s Head of Savings, said: “We’re delighted that thousands of people have been able to take advantage of this extremely popular offering from Skipton. In fact, the Online Bonus Saver has been more popular than any other savings account we have issued and echoes the popularity of our Lifetime ISA.

"The huge demand for, and success of, Skipton’s Online Bonus Saver shows that people are hungry for great value savings accounts in today’s low-interest environment.

“We remain committed to helping the nation save and whilst this has sold out we still have other best buy products available such as the 30-month fixed ISA at 0.95 per cent and our 30-month bond at 1.15 per cent, along with still being able to offer a rate of over 1.00 per cent on our eSaver product for balances over £50k.

“We are proud to offer rates across our savings range that are really competitive, and we will continue to launch and provide other market leading savings accounts.

“It’s always our aim to provide products which give savers the opportunity to put their money in a good place, helping them to save for the future and secure their own homes.”