UK Money News

15th May 2008
Leeds Building Society launches Postal Escalator Bond
Leeds Building Society has announced the launch of a new postal bond offering an escalating rate of return.
The Postal Escalator Bond offers savers an annual return of six per cent for the first year and seven per cent for the second.
A monthly interest option is also available, with a rate of 5.75 per cent and 6.75 per cent paid in the first and second year respectively.
Entry to the bond can be secured with a minimum investment of £10,000, with the maximum deposit the lender will accept standing at £1,000,000, or £2,000,000 for joint accounts.
Savers who invest in the product are also permitted to access 25 per cent of the initial amount invested in the first year, without notice or penalty.
Meanwhile, in the second year they have unlimited access to the full balance at any time while receiving a fixed rate of seven per cent.
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