Leeds Building Society has launched a market-leading one-year fixed-rate savings bond with a new and innovative approach to allowing withdrawals.
The building society has unveiled a very attractive savings bond combining a high guaranteed return of 3.6% AER with unlimited access to 25% of the funds, without notice or penalty, at any time.
The deal immediately sits at the top of our Best Rates tables for one-year fixed-rate accounts.
A great rate and flexibility
Kim Rebecchi, Leeds Building Society’s sales and marketing director said of the deal: ‘This bond offers a market-leading rate of 3.6% AER combined with the flexibility of unlimited access to 25% of the funds. Furthermore, it can be opened with only £100.
‘Other fixed-rate bonds currently available on the market require customers to lock away all, or the large majority of, their funds. We believe our new 3.6% one-year bond provides the best of both worlds and expect this combination of a high fixed rate and access to prove popular.
‘The maximum investment is £5,000 (£10,000 for joint accounts) of new money for this new account, which is available throughout our 65-strong national branch network, through postal channels and online.’
Best of both worlds
Paul Davies, savings analyst at Which?, added: ‘The new deal from Leeds BS offers both a rate that matches the best one-year fixed deals in the market and the flexibility of allowing customers to withdraw some of their cash without being penalised.
‘It’s not clear how long this deal will be available, so savers should act fast if they are interested. The maximum investment is only £5,000 per individual, which is relatively low, but it’s still a decent home for your money if you are looking to tie it up for a year.’
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