Leeds Building Society has launched a new savings bond that offers a fixed savings interest rate for a year.
The branch-based savings bond requires an initial deposit of £5,000, which will earn 4.6 per cent savings interest annually. A monthly savings interest rate option is also available.
Savings bond holders can access up to half of their savings held in the savings bond at any time without having to give notice or incurring a penalty. One such withdrawal is allowed during the fixed term, which ends on February 1st 2007.
"The one-year fixed rate bond offers guaranteed value, which is combined with excellent access to half the funds invested without notice or penalty," says the head of marketing and PR at Leeds, Karen Wint.
She says that the savings bond is "great" for those who want to be saving money in a savings bond that guarantees returns, especially in the light of "uncertainty around what will happen to the Bank of England base rate".
Leeds savings bonds can be opened at one of the society's branches, via its website or by phoning the savings hotline.
Savings bond to offer guaranteed returns
Savings bond to offer guaranteed returns
Wed, 11 Jan 2006
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