Leeds to launch new postal savings account

Leeds Building Society is set to launch a new market leading postal savings account that combines a high guaranteed rate of 6.60% AER (6.55% gross) and unlimited penalty free access to funds for customers, at any time.

The rate is fixed until 30 June 2008, at which point the balance will be transferred to a base rate tracking account that guarantees to match Bank of England base rate until February 2010. Again, customers can withdraw their funds at any time without notice or penalty.

Karen Wint, Head of Marketing & PR said, "This is a simple and straightforward unlimited access bond paying a fantastic guaranteed rate of return. Customers benefit from the certainty of a fixed rate combined with the flexibility of access. No matter what happens in the market, investors simply cannot lose.

"We expect the account to be very popular and there is, therefore, a very limited tranche available. The minimum investment is £5,000 and the maximum is £50,000."

For further information and an application form, customers can telephone 08450 540 995, where staff are available 7 days a week from 8am to 8pm in the Leeds based call centre or by visiting leedsbuildingsociety.co.uk, for an application form.