News Article Published:
Tuesday, 18 November 2008
Category:
Financial Services
Leeds Building Society has launched a new product which it believes will be "extremely popular" with consumers.
Its new six-month fixed-rate postal bond allows customers to retrieve funds whenever they want, without providing notice.
This, along with the fact that it offers a guaranteed fixed return "as high as five per cent", which is two per cent above the Bank of England's Base Rate, is what will endear it to customers, the financial services firm believes.
"Customers know exactly what they are getting and, with market experts predicting further base rate cuts, customers have an excellent choice of products that provide the ideal home for a short or medium term," said the general manager of marketing and customer services, Karen Wint.
Leeds also used the launch to publicise changes to its one and three-year fixed-rate bonds, which now pay 4.75 per cent and five per cent respectively and allow access to a quarter of the invested amount.
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