Leeds launches new higher fixed rate bond

14 August 2006
Although last week's interest rate rise was bad news for mortgage borrowers, investors are rubbing their hands at the prospect of higher returns on bond investments.

Leeds Building Society is one of the institutions leading the way with such an investment opportunity, unveiling a new three-year fixed rate account paying 5.25 per cent.

The new branch-based offering has a £100 minimum investment and account holders have the option of receiving interest payments on the balance every month if they require an income from the deposit.

The account also features a one-time withdrawal option of up to 25 per cent of the initial investment that can be accessed without a penalty or fee.

Stuart Fearn, Leeds' product development manager, said: "This is another product in our range that offers a guaranteed rate of return combined with the flexibility of access to some of the funds, without notice or penalty.

"This unique combination of guaranteed rate and access has proved popular with customers and we expect this account to be popular with many investors."

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