Leeds Building Society launches new fixed rate bond

Thursday, 15 December 2011 11:59

Leeds Building Society has announced the launch of a new fixed rate bond that lasts for one year and could benefit savers who want easy access to their funds.

The product can be opened in a branch, by post or online and offers a high guaranteed return of 3.35 per cent gross per annum/AER.

Furthermore, anyone with the bond can have unlimited access to 25 per cent of whatever is in it without having to give notice or incur a penalty.

The bond can be opened with £100 and the maximum investment is £5,000, with interest paid on October 31st 2012 and upon maturity on January 31st 2013.

Leeds Building Society's Kim Rebecchi said: "Other fixed rate bonds ... require customers to lock away all, or the large majority of, their funds. We believe our new bond provides the best of both worlds and expect this combination of a high fixed rate and access to prove popular."

Earlier this month, Leeds Building Society announced it has cut the rates on its Direct Only Offset 2 Year Discount mortgage.

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