High guaranteed rate and unlimited penalty free access

Leeds Building Society is set to launch a new postal savings account that combines a high guaranteed rate of 6.40% AER (6.35% gross) and unlimited penalty free access to funds for customers, at any time.

The rate is fixed until 1 September 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 April 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, visit leedsbuildingsociety.co.uk.