The launch of a "unique" savings account by the Leeds Building Society has been announced.
According to the society the Inflation Buster Bond will provide savers with a "tax free return guaranteed to beat inflation".
Karen Wint, the company's general manager for marketing and customer services, explained that this was possible as the rate of interest paid on the account was linked to the Retail Price Index (RPI) measure of inflation.
She said that recent increases in the RPI meant that many people with savings accounts have "seen their real return eroded".
"As a result demand for our previous Inflation Buster Bonds has been very positive and we are now launching another tax free version, which is extremely attractive in the Isa market," Miss Wint added.
On Tuesday Jason Clarke, a spokesperson for Halifax, recommended that people shop around as much as possible before taking out a savings account.
Inflation linked savings account launched
Inflation linked savings account launched
Fri, 15 Feb 2008
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