Leeds Building Society recently announced its new two year fixed-rate bond offering that will not only track the Bank Base Rate but will additionally add 1.75 per cent to its total.
The savings product, which also allows access to up to half of the bond’s funds at any time without running the risk of penalties, currently holds a total credit interest rate of 2.25 per cent.
Leeds Building Society, one of the leading personal and business bank account providers in the UK, proclaimed that their new bond is exclusive across the entire savings market after research conducted by the organisation turned up no other offerings that allow the same levels of access.
Sales and marketing director for Leeds Building Society Kim Rebecchi commented on the new savings account offering, stating that consumers now have a savings product that offers the some of the best possible elements on the market today.
Ms Rebecchi expanded on her statement by describing how the building society’s new tracker bond offers not only flexibility by making 50 per cent of the funds in it constantly available, without penalty or notice, but also that it also had a quite high rate attached to it as well.”
Additionally, Leeds Building Society also announced the launch of its new BBR-linked ISA as well.
Like the fixed-rate bond, the ISA from Leeds will also allow savers to access up to half of their funds at any time with no penalties. The product will follow the BBR by as much as 1.8 per cent. The current rates of the ISA are 2.3 per cent.
In related news, tax-free ISA deposit limits are slated to increase early next year. Starting from April 2011, the limit cap will be raised by a sum total of £471, which may lead to the popularity of ISAs to grow even more quickly that they have been recently.