Leeds Building Society has provided savers with some good news this week with the launch of two new one-year savings products that immediately top the Best Rate tables.
The 1 Year Fixed Rate Bond (Issue 95) pays a rate of 3.46% AER and allows savers to invest up to £5,000 (or £10,000 for a joint account). The bond tops our Best Rate table for one-year fixed-rate bonds.
For Isa savers, there’s the new 1 Year Fixed Rate Isa (Issue 25) paying 3.25% AER tax-free. Like the savings bond above, this Isa allows you to withdraw up to 25% of your investment without notice or loss of interest.
Which? savings expert Paul Davies said of the latest launches: ‘Leeds Building Society has replaced products withdrawn over the last few weeks with a couple of very attractive deals. Penalty-free access to 25% of the money during the term adds some useful flexibility.
‘The maximum investment in the one-year bond of only £5,000 may put some people off. If you’re looking to invest a bit more money you might have to check out other options. However, if you’re only saving a small amount the minimum deposit of £100 might work in your favour.
‘Earlier this week Tesco Bank was the latest provider to target those looking to lock their money up for a year. There’s an increasing number of decent one-year fixed-rate deals out there and savers should keep their eyes open as they don’t always last for long.’
- 60 second guide to choosing a savings account – all you need to know about different savings accounts
- Which? Best Rate one-year Isas – marketing-leading fixed-rate Isas
- Best Rate one-year fixed-rate savings accounts – all the Best Rates on one-year accounts