Leeds pays up to 1.75% above Bank of England Base Rate

Leeds Building Society is set to launch a branch based 2-year Escalator Tracker, on Tuesday 26th August, paying an escalating return up to 1.75% above the Bank of England Base rate in the second year (currently 6.75%).

Furthermore, savers can access 25% of the initial amount invested in the first year, without notice or penalty, and have unlimited access to the full balance at any time in year 2.

The account pays Bank of England base rate plus 0.50% (currently 5.50%) until 30th November 2009, and Bank of Bank base rate plus 1.75% (currently 6.75%) from 1st December 2009 until maturity on 30th September 2010. There is also a monthly interest version for customers who require an income paying 0.25% above base rate in year 1 (currently 5.25%), rising to 1.50% (currently 6.50%) in the second year. The annual AER is 6.02% and the monthly AER is 5.93%.

Karen Wint, General Manger Marketing & Customer Services said, "The ability to lock into a rising guaranteed return, combined with instant access to 25% of the funds in the first year, will prove popular. Customers also have the comfort of knowing they have full instant access to their funds in the second year.

"Furthermore, this account is a high street passbook account available at any of our branches. Our national branch network underpins our ability to attract new members and savings inflows. We recognise that customers value the face to face service they receive from our staff, with our most recent customer research showing that 95% are very satisfied with the friendliness and helpfulness of Leeds Building Society branch staff."

For more information visit leedsbuildingsociety.co.uk