Leeds launches 4% fixed-rate bond

Leeds Building Society has launched a new range of fixed-rate bonds, available over three or five years.

The accounts are guaranteed to pay a competitive return of up to four per cent gross AER and offer full, instant access to 50 per cent of the capital invested.

Savers can take out one of the fixed bonds with a minimum balance of just £100.

Kim Rebecchi, Leeds Building Society's sales and marketing director, commented that simple and straightforward fixed-rate accounts are "popular" with consumers.

"With the Bank of England base rate still at just 0.5 per cent, these products offer excellent value.

"These bonds combine a good rate of return with the peace of mind associated with access of up to 50 per cent of the initial capital invested, without notice or penalty, at any time.

Ms Rebecchi said this facility is "unique in the market" and offers customers the reassurance of having access to a proportion of their capital should they need it over the investment term.

"Furthermore, there is also a monthly interest option available for customers who would prefer to secure fixed income," she added.

Earlier this week, Skipton International launched a second edition of its two-year fixed-rate sterling account, paying a 3.25 per cent savings interest rate.

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2010-04-15 13:11:14 © Moneyextra.com