Financial Services > Savings > Savings and Investments News
Leeds launches new savings account

Wed, 18 Feb 2009

Leeds Building Society has launched a new range of fixed rate savings bonds .

The savings bonds are fixed for one, two and three years and offer a return of 3.5 per cent gross.

People opting for the savings account will also be able to access 25 per cent of the balance without notice or penalty at any time.

Those looking for a regular income from their savings account will be able to opt for a monthly interest option.

Kim Rebecchi, director of sales and marketing at the building society, said: "These accounts offer returns up to 3.5 per cent and the ability to lock in at 2.5 per cent above the Bank of England base rate ."

The fact that the base rate could fall further still means the savings accounts could be even more attractive in future, she added.

Yesterday, Rumina Hassam, personal finance expert at uSwitch.com, advised people to think twice before withdrawing money from a cash individual savings account .

He warned that they would be missing out on one of the few tax free savings products around.
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