Leeds launches base rate tracker bond

Leeds Building Society has launched a unique two-year bond which tracks the Bank of England base rate.

The bond offers customers savings interest rates 1.75 per cent above the base rate which makes the actual rate 2.25 per cent.

Those who take up the new bond issue have unlimited access to half of the funds invested without penalty charges.

Kim Rebecchi, Leeds Building Society's sales and marketing director, believes that the company is offering something unique to those looking for the best savings rates, a flexible tracker with an excellent rate.

She added: "We believe customers have the best of both worlds with this combination. This tracker pays a good rate of interest and, with Bank of England base rate at a historically low level, there is potential for the rate to rise during the term."

There is also a monthly interest version of the bond available paying 1.50 per cent above the base rate, for savers who require a regular income from their investment.

Leeds Building Society recently won an award for Best Regional Branch Network in the Your Money Direct Awards 2010, demonstrating the superb customer service it provides
 

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2010-10-08 12:54:18 © Moneyextra.com