Leeds launch unique 5 year fixed rate bond

Leeds Building Society has launched a branch based 5 year fixed rate bond paying a guaranteed return of 3.50% and unlimited access to 50% of the funds, without penalty, at any time

Related topics:  Mortgages
Millie Dyson
6th July 2010
Mortgages
Furthermore, there is a monthly interest option available paying 3.30% AER for investors that require an income and, unlike some other 5 year products on the market, customers do not have to open any linked accounts.

Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said:

"We have looked at the savings accounts available and delivered a unique product to market. This bond offers an excellent rate combined with the flexibility of unlimited access to half of the funds at any time, without notice or penalty.

"When you look at what is available in the market, the highest instant access accounts are around 2.50% variable, with some accounts including a short term bonus. Whilst there are higher rates available over 5 years for those customers who wish to lock away all of their finds, they can also be required to open a linked account and may not benefit from the full branch facility available at Leeds Building Society.

"We believe these new bonds provide the best of both worlds and know this combination of a fixed rate and access will be popular.

"They will be suitable for those investors who are wary of tying up all of their money for long periods and those who don't want to have very short-term accounts within their investment portfolio, but still wish to have access to cash quickly should the market change or in an emergency."
More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.