Leeds Building Society improves Regular Saver

Leeds Building Society has increased the maximum monthly investment on its Regular Saver account from £500 to £1,000.

This enables customers to save more at the same excellent rate of 5.40% gross p.a./AER on all balances held.

Stuart Fearn, Product Development Manager at Leeds Building Society, believes that these changes to the Regular Saver account enhance "an already attractive proposition" .

"There are currently Regular Savings accounts available with high headline rates from many providers. However, there is often a requirement to open a current account and have a monthly salary or income of at least £1,000 paid directly into it.

"The Leeds Building Society Regular Saver has no such requirement. In addition, many of the high headline rate accounts run for a set period of 12 months, and then the accumulated savings are transferred into an instant access savings account, paying substantially less than the Regular Savings account.

"Our Regular Saver has no fixed term, so for example, £1000 per month saved for a year and totalling £12,000 can be added to any current Regular Saver balance already accrued. Many of the Regular Savings accounts on the market have a maximum monthly investment of £500 at the highest, and in most instances £250, so the increase in our maximum monthly subscription to £1,000 offers customers the opportunity to save more and earn more.

"We also provide customers the peace of mind afforded by 1 withdrawal every 12 months, in case of an emergency, without notice or penalty. Many of the other products do not allow access to any of the funds during the term of the product."

"All the Society’s branches are open on Good Friday (6th April), as this is the first day of the new tax year, and this could be an ideal opportunity to maximise interest earned on their tax free savings and benefit from the increases in monthly subscription on our Regular Saver."