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Leeds launches market leading products paying 3%

Leeds Building Society has announced the launch of not one, but four market leading savings products and is offering a 5-Year Fixed Rate Bond and ISA, both paying 3.00%, with the ISA paying 0.50% more than the next best in the market.

Furthermore, the Society has also unveiled market leading 5-year versions of these products at 2.75%, for those customers who like the flexibility and peace of mind of 25% penalty free access to their funds at any time.

Kim Rebecchi, Leeds Building Society Sales & Marketing Director commented, “We know that savers are looking for value, security and, where possible, a return that is higher than the current rate of inflation.

“Whilst the traditional ISA season is in March and April each year, around the tax-year end, our research showed us that circa £7.4bn* of fixed rate ISA balances mature in Q4 2013. It also highlighted that a further £26.7bn* of non-ISA bonds are maturing during the same period, which means that many savers will now be looking to maximise their returns.

“That is why we have launched these market leading products paying 3%, and 2.75% for those who require the peace of mind of access to some of their funds without notice or penalty.”

The 5-Year ISA paying 3.00% is available for both the 2013/2014 tax-year subscription of £5,760 and the transfer in of previous years ISA subscriptions from other providers. Those customers who have used their tax free allowance in full each year since inception could have balances of over £60,000 to transfer. The 5 Year Access ISA pays 2.75% (gross/ AER), and offers 25% penalty free access and also accepts transfers in from previous years. These tax free products have a minimum investment of only £1.

The Society’s new 5-Year Bond, with a market leading headline rate of 3.00%, is complimented by an additional market leading 5 year version available with 25% access at 2.75%. Both of these accounts have a minimum investment of only £100 and a maximum investment of £1,000,000 (£2,000,000 for joint accounts).

Kim continued, “Customers can benefit from a tax-free return, on all of their ISA savings, which is higher than the current rate of inflation. Furthermore, they can also achieve a market leading fixed rate of return on their other savings with the UK’s 5th largest building society. We know that these products will be popular and I would urge savers to act quickly to take advantage of these four market leading products, as there is a limited tranche available.”

For more information, customers can call into their local branch, visit the website at www.leedsbuildingsociety.co.uk, or call the savings hotline, on 08450 540 995.

Ends

Notes to Editors

*Source: CACI savings market database.

Key features

5 Year Fixed Rate ISA

  • 3.00% gross/ AER fixed until 31st October 2018
  • Interest is paid annually on 31st October, commencing 31st October 2014 and on maturity (31 October 2018)
  • Interest can be added to the account, transferred or paid to another account with the society
  • Minimum Investment £1
  • Maximum Investment is £5,760 (2013/2014 tax year allowance) and transfers in of previous years ISA subscriptions are permitted.
  • Available to ISA subscriptions invested in previous tax years whilst the product remains open for further investments
  • Withdrawals/transfers cannot be made without notice or loss of interest prior to maturity (31 October 2018). If a withdrawal is made, the account will be subject to 180 days loss of interest on the amount withdrawn/transferred.
  • Available to open in branch, by post or online and can be transacted on via post and branch.

5 Year Fixed Rate ISA (with 25% penalty free access

  • 2.75% gross/ AER fixed until 31st October 2018
  • Interest is paid annually on 31st October, commencing 31st October 2014 and on maturity (31st October 2018)
  • Interest can be added to the account, transferred or paid to another account with the society
  • Minimum Investment £1
  • Maximum Investment is £5,760 (2013/2014 tax year allowance) and transfers in of previous years ISA subscriptions are permitted.
  • Withdrawals of up to 25% of the capital invested can be made without notice or loss of interest prior to maturity. Further withdrawals will be subject to 180 days loss of interest.
  • Available to ISA subscriptions invested in previous tax years whilst the product remains open for further investments
  • Available to open in branch, by post or online and can be transacted on via post and branch

5 Year Fixed Rate Bond

  • 3.00% gross p.a./ AER fixed until 31st October 2018
  • Interest is paid annually on 31st October, commencing 31st October 2014 (and on maturity, 31st October 2018)
  • Interest can be added to the account, transferred or paid to another account with the society
  • Minimum Investment £100
  • Maximum Investment is £1,000,000 (£2,000,000 for joint accounts)
  • Additional investments can be made whilst the issue remains available for new investments.
  • No Withdrawals permitted until the day after maturity (1 November 2018)
  • Available to open in branch, by post or online and can be transacted on via post and branch

5 Year Fixed Rate Bond (with 25% penalty free access)

  • 2.75% gross p.a./ AER fixed until 31st October 2018
  • Interest is paid annually on 31st October, commencing 31st October 2014 and on maturity (31 October 2018)
  • Interest can be added to the account, transferred or paid to another account with the society
  • Minimum Investment £100
  • Maximum Investment is £1,000,000 (£2,000,000 for joint accounts)
  • Withdrawals of up to 25% of the capital invested can be made without notice or loss of interest prior to maturity. No further withdrawals permitted.
  • Additional investments can be made whilst the issue remains available for new investments.
  • Available to open in branch, by post or online and can be transacted on via post and branch

Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £10.8bn (as at 30 June 2013). The Society has operated from the centre of Leeds since 1886.