Leeds Building Society has introduced a new savings account to its range of products.
The savings account offers guaranteed fixed rates of interest until 2008 and gives customers penalty-free access to their money at all times.
Chief executive at Leeds Building Society, Ian Ward, said "This is a unique account that gives guaranteed rates of interest but access to all or part of the money at any time without notice or penalty."
"This type of product is very popular with the many people who want a good guaranteed return but, that important option of penalty free access if something unexpected occurs."
The account gives customers their first year of interest at 4.25 per cent followed by 4.5 per cent in 2007 and 5.25 per cent in 2008.
A recent survey by MoneyExpert.com found savings accounts were the third least popular product with UK consumers.
The least favourite financial product overall was the current account, followed by credit cards.To read more about Savings Accounts, click here.
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