'Unusual' savings opportunity from Leeds

Wednesday, December 28, 2005

Leeds Building Society has today launched a new savings bond that offers what the building society calls an "unusual combination" of a guaranteed return and flexibility.

The new savings opportunity, a two-year fixed rate postal bond, requires a minimum investment of £5,000 but can accommodate up to £250,000 in savings.

"This postal bond offers an unusual combination of an excellent guaranteed return of five per cent with the flexibility of access to all the funds, if required, at a slightly lower rate," said Stuart Fearn, product development manager at Leeds Building Society.

"From the outset, customers have the peace of mind provided by a product that gives rate guarantees. Therefore, with or without access, customers know they will receive a highly competitive return."

The instant access utilises an interest rate of four per cent from the initial interest rate, but the five per cent is available on untouched funds until January 31st 2008.

Leeds Building Society is the UK's eighth largest building society, with 58 branches and assets worth £6.7 billion.

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