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Unique new five year bond part of savings range refresh by Leeds Building Society

4th August 2015 Print

Leeds Building Society is launching a competitive new five year fixed rate bond – with unique access - as part of a refresh of its savings range.

The bond – which pays 2.60% gross/AER – is available through all channels and is unusual among fixed rate products in allowing savers access to 25% of their capital investment without penalty during the five year term.

“In addition to a competitive return, our latest five year fixed rate bond is unique in offering savers access to up to a quarter of their money,“ said Jaedon Green, Leeds Building Society’s General Manager – Product Development.

“When choosing a fixed rate bond there is always a trade-off between the most competitive rate and how long you’re prepared to lock away your cash – by offering access to part of your savings, we’re giving savers added flexibility.

“While inflation remains low – currently 0%, with a long-term target from the Bank of England of 2% - achieving a guaranteed return of 2.60% is an attractive option. With the new personal savings allowance coming into force in April, the majority of savers will receive their interest tax-free§.

“For longer-term savers seeking an ISA, our five year fixed rate ISA which launches on 6th August - paying 2.50% tax-free† pa/AER - will be among the most competitive on the high street and, like our bond, offers 25% access penalty-free.”

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