Leeds offers more choice for short term fixed rate savings
A competitive new 18 month bond is the latest addition to Leeds Building Society’s fixed rate savings range.
The bond pays 1.70% gross/1.69% AER and can be opened in branch, by post or online.
“Eighteen month bonds can be an attractive compromise between the more common one and two year terms,” said Jaedon Green, Leeds Building Society’s General Manager – Product Development.
“This latest bond has a competitive return and adds to the choice we offer for savers who don’t want to tie up their cash for a longer period.
“And because it matures in the 2016/17 tax year – after the new personal savings allowance comes into force next April – savers will receive their interest tax-free*.”
The bond matures on 28th February 2017 and can be opened with a minimum balance of as little as £100.
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
* The new allowance, announced in March by the Chancellor, George Osborne, in his final Budget of the last Parliament, will remove the first £1,000 of savings income from income tax and is expected to benefit most savers.
For example, a basic-rate taxpayer could currently save approximately £80,000 in Leeds Building Society’s best buy instant access Everyday Saver, paying 1.25% gross variable, before their interest would pass the £1,000 threshold.
18 month No Access Bond (Issue 4)
- 1.70% gross/1.69% AER fixed until 28th February 2017
- Minimum Investment £100
- Maximum investment is £1m (£2m for joint accounts)
- Interest paid on maturity (28th February 2017)
- No access permitted during the term
- Available to open in branch, by post and online
Awards won by Leeds Building Society in the past 12 months include being named ‘Innovator of the Year’ at the Moneywise Magazine Mortgage Awards 2014 for our Welcome Mortgage. This allows borrowers to pay 0% interest for the first few months of their term to free up cash to help them settle into their new home.
The Society scooped 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, and 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.