Leeds launches competitive new 18 month savings bond

A new 18 month fixed rate bond with a highly competitive rate has been launched by Leeds Building Society.

The bond - with a return of 2.10% gross/AER -  uniquely allows savers penalty-free access to up to 25% of their capital investment, and can be opened online, in branch or by post.

“This latest bond offers a competitive rate of 2.10% and we’re expecting to see strong demand for this limited issue product,” said Jaedon Green, Leeds Building Society’s General Manager – Products.

“The 18 month term is appealing for short-term savers who want something a little longer than a one year bond and it’s flexible - unlike similar products, savers can access up to a quarter of their money without notice or penalty.

“Investors with larger sums in savings accounts who are aware of the changes to FSCS protection which come into force at New Year may already be looking to move some of their cash to continue to fully benefit from the compensation scheme.

“And with maturity occurring after the new personal savings allowance has come into force next April, most savers will receive their interest tax-free§.”

The minimum balance is £10,000 and further deposits can be made while the bond remains available.

For more information, visit leedsbuildingsociety.co.uk.