Savers wanting monthly income seek out Leeds Building Society bond
Savers who want to receive monthly interest on their nest egg are seeking out the latest income bond from Leeds Building Society.
The four year fixed rate bond pays a competitive return of 2.30% gross pa/2.32% AER.
“Income bonds are an attractive option for investors wanting to generate a regular income from their savings,” said Jaedon Green, Leeds Building Society’s General Manager – Product Development.
“This four year bond has a competitive fixed rate of 2.30% and we consistently see strong demand for this kind of product when we’re able to offer it, particularly from savers on fixed incomes.”
The limited issue bond has a minimum opening balance of £100 and up to a maximum of £1 million can be saved.
The product can be opened in branch, online or by post, and operated in branch or by post.
Interest is calculated daily and paid monthly to a nominated account, which can be with the Society or any other bank or building society.
Once the account is opened further deposits can be made up to and including 31st August 2015, but capital withdrawals are not permitted during the term of the bond.
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.
Notes to Editors
- 2.30% gross pa/2.32% AER fixed until 1st September 2019
- Minimum Investment £100 per account
- Maximum investment is £1,000,000 (£2,000,000 for joint accounts)
- Monthly interest is paid on the last working day of each month (commencing 31st July 2015) and on maturity (1st September 2019)
- Interest must be transferred to another account with the Society or another bank or building society
- No withdrawals are permitted at any time
- Available to open in branch, online or by post, and can be operated in branch or by post
Awards won by Leeds Building Society in the past 12 months include the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2015, in addition to being named ‘Best Intermediary Lender’, both for the second consecutive year. The Society also received the award for ‘Best Use of Technology (Lenders)’.
Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £12.1bn (as at 31st December 2014). The Society has operated from the centre of Leeds since 1886.