If you are looking to save for the future and are comfortable with locking your money away for a predefined period of time then a fixed rate savings bond from Leeds Building Society might be the answer. However before you decide it may be wise to shop around the different plans available to you as there are many bonds available on the market. You can use the below comparison tables to see what different providers might be able to offer you.
Leeds Building Society fixed rate bonds feature:
- Available in terms from 1 to 5 years
- Each term is available with either monthly or annual interest
- Minimum operating amount £100
- Maximum balance of £1million for single accounts and £2million for joint accounts
It may be a good idea that you compare Leeds Building Society’s fixed rate bonds with those available from different providers before deciding which might be the best for you. The comparison tables on this page will help you compare features of Leeds Building Society fixed rate bonds with some more of the best fixed rate bond deals on the market.
Alternative savings plans
As opening a bond involves you losing access to your money for a period of time once you make the deposit, before you do so a long with trying to make sure you have found the best fixed term bond available to you, you may also want to look into alternatives to see if there is a different kind of plan that you prefer.
- Tracker Bonds – This is another kind of bond however the interest rate you receive over its course can vary, this is because the interest rate paid to you is linked to the Base Rate set by the Bank of England which it ‘tracks’ therefore if the Bank of England makes a change to their interest rate the rate you receive on your bond will change to reflect this. This means you may get a better or worse rate over the bond’s term.
- Structured Deposits – Structured Deposits – Like a bond a structured deposit requires you to lock up your funds for a period of time. This type of plan is normally tied to an index such as the FTSE 100. If over the plan the index or indices perform in a certain way you will receive your original investment back plus an interest payment typically larger than those offered by bonds or savings accounts. However if it does not perform in the way the bond stated at the start of the plan you will receive just your investment back but will no gains on it, so it is a risk that needs to be carefully considered beforehand.
- Savings Account – You may also wish to consider an instant access savings account, although they tend to offer lower interest rates than bonds, they do normally allow you to have instant access to make a withdrawal from the account whenever you want, should you need to.