Back to September 2020

Leeds Building Society launches new 16 month bond

A new short-term fixed rate bond which increases choice for savers is being launched by Leeds Building Society.

The 16 month bond will be available from Thursday, 3 September, paying a fixed rate of 0.8% gross p.a./AER.

This latest product complements the Society’s existing fixed rate savings range, increasing choice for investors seeking a better return on their nest egg if they are able to lock it away for the short term.

“When choosing between savings accounts, there’s always a balance to be struck between interest rate and ease of access,” says Matt Bartle, Director of Products at Leeds Building Society.

“Our new 16 month fixed rate bond offers savers a chance to make their money work a little harder without having to lock it away for a long period of time.

“For this reason, shorter term fixed rate deals remain popular even though the demand for easy access accounts has increased in recent months.

“We work hard to offer a good choice of products across our range so we can meet the needs of different types of savers, delivering on our aim as a building society to help more people save and have the home they want.”

The bond remains open for deposits online or in branch until 31 October. No withdrawals are permitted after that date.

Ends

Notes to Editors

16 month bond with fixed rate of 0.8% until 1 March 2022

Key features

  • Fixed rate of 0.8% gross p.a./AER
  • No withdrawals permitted
  • Minimum operating balance £100
  • Maximum investment £1,000,000 (£2,000,000 for joint account holders)
  • Interest paid annually on 31 October, commencing 31 October 2021, and on maturity
  • Can be opened in branch or online
  • Available to new and existing members
  • Maturity date: 1 March 2022

Leeds Building Society has received a Gold Ribbon from Fairer Finance for savings accounts for the third year running, based on customer happiness and trust, along with the ability to explain things clearly.

The Society operates throughout the UK and had assets of £20.5bn at 30 June 2020 (£20.7bn at 30 June 2019). The UK’s fifth-largest mutual has its head office in the centre of Leeds, where it has been based since 1886.