New Leeds one year bond with 50% access penalty-free
A new one year bond has been added to Leeds Building Society’s fixed rate savings range.
The 1.01% gross pa/AER* bond has the added benefit of penalty-free access to up to half the investment during the term. There is no limit on the number of withdrawals.
“Fixed rate savings products generally involve a compromise where the saver benefits from a higher rate by sacrificing access to their money,” said Richard Fearon, Leeds Building Society’s Chief Commercial Officer.
“Access without penalty to up to 50% of the savings during the one year term, with no restriction on the number of withdrawals, gives this bond flexibility which makes it the best of both worlds.”
1.01% one year Fixed Rate Access Bond (Issue 259)
- Fixed rate of 1.01% gross pa/AER* until 1st July 2018
- Limited issue
- Withdrawals of up to 50% permitted without notice or loss of interest
- Further withdrawals not permitted
- Minimum Investment £100
- Maximum investment is £1m (£2m for joint accounts)
- Interest paid on maturity on 1st July
- Interest can be added to the account, transferred or paid to another account with the Society
- Deposits can be made up to and including 30th June 2017
- Fixed end date of 1st July 2018, when the account reverts to a variable rate easy access product
- Can be opened online, in branch or by post, and operated in branch or by post
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Notes to Editors
For further information please contact:
Julie Hemmings PR Manager
Telephone: 0113 225 7903
Out of Hours: 07769 675330
Leeds Building Society won the awards for Best Building Society Savings Provider and Innovation in Personal Finance (Part and part mortgages) at the 2016 Moneyfacts Awards.
Leeds Building Society operates throughout the UK, Gibraltar and Ireland and has assets of £15.9bn (at 31st December 2016). The Society’s head office has been based in the centre of Leeds since 1886.