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Leeds Building Society has launched a new Postal Tracker savings account guaranteed to track Bank of England Base Rate + 1.50% until December 1st 2008 - the current rate payable being 6.60% AER (6.50% gross). After December 1st the balance will be transferred to a base rate tracking account guaranteeing to match or better Bank of England base rate until December 1st 2009.
Customers will have unlimited access during the base rate tracking period. Meanwhile, interest is paid on maturity on December 1st 2008.
Minimum investment is £1,000, maximum investment £1,000,000 (£2,000,000 for joint accounts).
One withdrawal of up to 25% of the initial capital invested is allowed, subject to 90 days' loss of interest. No further withdrawals are permitted prior to maturity on December 1st 2008.
Additional investments can be made to the account whilst the issue remains open.
07 May 2008 © Moneyextra.com
SAVINGS - DEPOSIT ACCOUNTS - CASH ISAS - CHILD TRUST FUNDS
Our senior editor Robin Amlôt recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.