Regular Savers with LBS rewarded with market-leading rate
The latest issue of Leeds Building Society’s popular Regular Saver account offers a market-leading rate of 2.55%.
The Society’s Regular Saver (Issue 10) incentivises people to put away their cash but offers flexibility about when they top up their account.
“Regular Saver is currently our most popular non-ISA savings account,” said Richard Fearon, Leeds Building Society’s Chief Commercial Officer.
“Unlike comparable products, there’s no requirement to hold other accounts with us and Regular Saver can be opened online.
“Supporting our members in the habit of regular saving remains really important to us - we were founded as a building society to help people to save and have the home they want.”
The Society’s Regular Saver offers members the flexibility of choosing then they make deposits, up to a maximum permitted balance which increases by £250 each month.
This means a saver can miss a payment for one month or more and catch up later. They also can make more than one deposit in a month provided they don’t exceed the maximum balance permitted.
This flexibility was included in the product in response to member feedback about the key features of a savings account.
Notes to Editors
Regular Saver (Issue 10)
- 55% gross/AER variable to 29th November 2018
- One penalty-free withdrawal permitted prior to maturity
- Minimum investment £50
- Maximum investment £3,000 (£3,000 for joint accounts)
- Interest is calculated daily and paid on maturity on 29th November 2018
- 5% interest if balance exceeds permitted maximum
- Interest can be credited to the account or paid into another account with the Society or elsewhere
- On maturity the account defaults into an easy access account
- Only one account permitted per customer
- Can be opened in branch or online
Leeds Building Society was named Best Building Society Savings Provider in the Moneyfacts Awards for 2017, having also won this title in 2016.
The Society won the title of Best Shared Ownership Mortgage Lender in the 2017 What Mortgage Awards, its second consecutive year of success in this category.
Leeds Building Society operates throughout the UK, Gibraltar and Ireland and has assets of £17.3bn at 30th June 2017 (£14.9bn at 30th June 2016). The Society’s head office has been based in the centre of Leeds since 1886.