Savers wanting monthly income seek out Leeds Building Society bond

Savers who want to receive monthly interest on their nest egg are seeking out the latest income bond from Leeds Building Society.

The four year fixed rate bond pays a competitive return of 2.30% gross pa/2.32% AER.

“Income bonds are an attractive option for investors wanting to generate a regular income from their savings,” said Jaedon Green, Leeds Building Society’s General Manager – Product Development.

“This four year bond has a competitive fixed rate of 2.30% and we consistently see strong demand for this kind of product when we’re able to offer it, particularly from savers on fixed incomes.”

The limited issue bond has a minimum opening balance of £100 and up to a maximum of £1 million can be saved.

The product can be opened in branch, online or by post, and operated in branch or by post.

Interest is calculated daily and paid monthly to a nominated account, which can be with the Society or any other bank or building society.               

Once the account is opened further deposits can be made up to and including 31st August 2015, but capital withdrawals are not permitted during the term of the bond.

For more information, visit leedsbuildingsociety.co.uk.