Unique branch-based savings bond pays 1.80%
Leeds Building Society launches a unique 16 month savings bond in its branches across the UK this week.
The bond – with a fixed rate of 1.80% gross/AER - will be available from Wednesday, 10 October.
“Our new bond pays a higher rate than one year bonds on offer from other high street savings providers,” said Jaedon Green, Leeds Building Society’s Director of Product and Distribution.
“With fixed rate products savers always need to consider the return they’ll receive versus the length of time they will be locking away their cash.
“Our 16 month bond is a good compromise between one and two year fixes so savers aren’t having to tie up their money for much longer than 12 months to receive a better rate.
“Short term fixed rate savings products remain popular with our savers, which perhaps is unsurprising due to ongoing economic uncertainty in the run-up to the UK’s exit from the European Union.
“We also know a large proportion of our savers value the face-to-face service they receive at their local branch, which is why we’ve chosen to launch this unique bond through our network.”
The bond is launched on 10 October and further deposits can be added until 30 November 2018.
Notes to Editors
1.80% 16 Month Fixed Rate Bond
- 1.80% gross/AER, maturing on 31 March 2020
- Minimum investment £100
- Maximum investment £1m (£2m for joint accounts)
- No withdrawals permitted
- Can be opened in branch
- Interest paid on maturity on 31 March 2020
- 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
Leeds Building Society was named Best Building Society Savings Provider in the Moneyfacts Awards for 2018, having also won this title in 2016 and 2017.
Leeds Building Society operates throughout the UK and in Gibraltar and has assets of £19.5bn at 30 June (£17.3bn at 30 June 2017). The Society’s head office has been based in the centre of Leeds since 1886.