Leeds: Penalty-free savings at 6.4%
Thursday, 25 Oct 2007 16:51
Leeds Building Society is bringing out a new postal savings account with a guaranteed rate of 6.40 per cent AER (6.35 per cent gross).
The account also offers unlimited penalty-free access.
The 6.4 per cent rate is fixed until September 2008 and then transfer to the Bank of England base rate until April 2010.
Karen Wint, head of marketing & PR, said: "This is a simple and straightforward unlimited access bond paying a fantastic guaranteed rate of return. Customers benefit from the certainty of a fixed rate combined with the flexibility of access. No matter what happens in the market, investors simply cannot lose.
"We expect the account to be very popular and there is, therefore, a very limited tranche available. The minimum investment is £5,000 and the maximum is £50,000."
Minimum investment on the account is £5,000 and maximum investment is £50,000 (or £100,000 for joint accounts).