New 100% access online account from Leeds BS

Wednesday, 05 October 2011 11:21

Leeds Building Society has launched a new 100 per cent access online savings account with an interest rate of 3.05 per cent.

As well as benefitting from unlimited withdrawals without the need for prior notice, the account tracks the base rate at plus 2.55 per cent until October 2012.

So if the Bank of England boosts the base rate, interest rates on the account will rise.

Commenting on the new tracker product, Kim Rebecchi, Leeds Building Society sales and marketing director, said: "This simple, straightforward account speaks for itself. A return of 3.05%, combined with the flexibility of online functionality and penalty free access."

She added that the high rate coupled with unlimited access will prove popular for consumers, who want to keep their options open.

A minimum of £100 is needed to open the account and the upward limit for savers is £1 million - or £2 million in the case of joint accounts.

Recently, Norwich & Peterborough Building Society claimed that a quarter of over-55s have no savings at all.

Use the Myfinances.co.uk comparison tables to find the best deal on savings accounts

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