Good news for savers

Following the decision by the Bank of England's Monetary Policy Committee to reduce rates by 1.5 percentage points to 3%, Leeds Building Society has launched two new fixed rate bonds which provide the option to lock in at up to 1% above the Bank of England base rate.

The Society has launched a new 1 Year Fixed Rate Bond paying 3.50% gross p.a./ AER, and a 3 Year Fixed Rate Bond paying 4.00% gross p.a./ AER. Both these accounts combine a competitive return, with access to 25% of the balance without notice or penalty at any time. Furthermore, there are also monthly interest options for customers who require an income.

Karen Wint, General Manager Marketing & Customer Services said, "These accounts offer returns up to 4.00%, and with the Bank of England Base Rate currently at 3%, the option to lock in at 1% above this offers good value. In addition, many market commentators are predicting that the Monetary Policy Committee may lower the base rate even further.

"These bonds also allow access to up to 25% of the capital invested without notice or loss of interest at any time. Customers also have access to a full branch facility when operating the account or, making it a really flexible option, by post if they prefer."

For further information, visit leedsbuildingsociety.co.uk