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Leeds launches escalator bond

07 June 2006
Leeds Building Society has launched a new tow-year fixed-rate escalator bond, with guaranteed rates of 4.75 per cent in the first year and 5.5 per cent in the second.

Customers will also have instant access to their funds in the account during the second year, with access to 25 per cent of the investment during the first 12 months.

"We are trying to ensure that customers receive a very competitive return and the peace of mind provided by allowing access to some of the funds, without notice or penalty," said Stuart Fearn, product development manager at Leeds.

"The minimum operating balance is only £5,000 and there is a monthly interest option for people who require an income," he added.

The Leeds Building Society escalator bond is the latest in a string of investment opportunities being launched by several of the larger players in the market recently, including The Royal Bank of Scotland, Halifax and Cheltenham and Gloucester.

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