Leeds & Holbeck launch 5.4 per cent 'instant access' saving bond

Leeds & Holbeck Building Society has released an investment bond with a difference.

As well as offering a 5.4 per cent fixed rate for two years, the capital invested can be accessed without notice.

If a consumer decides to tap into their savings before the two-year term is up, the account is automatically closed and an interest rate of 4.25 per cent is paid on the capital invested to that date.

Karen Wint Leeds & Holbeck head of marketing explained that the product "is designed for savers who intend to invest for two years and, therefore, want the best rate available but who also want a good return in the unlikely event that they have to withdraw their savings, in what is essentially an instant access scenario".

Investors can put away between £5,000 and £250,000 in the bond.

To read more about savings bonds, click here.
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