The Direct Bonus Tracker postal savings account from Leeds Building Society is proving a hit with its customers.
The savings account tracks the Bank base rate with a guaranteed bonus of 0.35 per cent until the beginning of next August. This savings interest rate is currently 5.10 per cent.
From August next year, the savings account will offer a savings rate set at the base rate less 0.25 per cent for 12 months.
The savings account also allows two withdrawals without notice or losing interest earned on savings.
This savings account is popular because of the two excellent guarantees combined with the flexibility of access to the funds, believes Stuart Fearn, manager of product development at Leeds Building Society.
"With a minimum investment of only £5,000 the Direct Bonus Tracker will be an excellent addition to any investment portfolio."
Mr Fearn said that the combination of penalty-free access to finances and the yearlong 0.35 per cent bonus gives customers peace of mind and have contributed to the product's popularity.
Leeds is the UK's eighth largest building society with assets of over £6.1 billion and 58 branches.
The society recently changed its name from Leeds & Holbeck.
Leeds savings account proves popular
Financial Services > Savings > Savings and Investments News
Leeds savings account proves popular
Fri, 23 Sep 2005
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