News Article Published:
Friday, 07 November 2008
Category:
Financial Services
The Leeds Building Society has launched two new products on the back of the Bank of England's large interest rate cut.
There has been speculation over http://news.bbc.co.uk/1/hi/business/7713006.stm, but Leeds has been quick to announce its fixed-rate bonds, which allow customers to lock in at up to one per cent above the Bank's base rate if they prefer.
The two products are a one-year fixed-rate bond paying 3.50 per cent gross pa/AER and a three-year option paying four per cent.
Karen Wint, general manager of marketing and customer services at Leeds, said the accounts offer "good value".
"In addition, many market commentators are predicting that the Monetary Policy Committee may lower the base rate even further," she added.
"These bonds also allow access to up to 25% of the capital invested without notice or loss of interest at any time."
The company has also tried to make the accounts as flexible as possible by allowing customers to control the account via mail.
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