Leeds' Direct Saver Plus account ups rate

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Leeds' Direct Saver Plus account ups rate

The Leeds Building Society Direct Saver Plus account is to see an increase in interest rate to five per cent as of next month.

From December 1st, the account will offer the improved rate and comes with a guarantee to either match the Bank of England base rate or be at least 4.75 per cent until and including July 31st 2007.

The Leeds Building Society Direct Saver Plus account will then track the base rate from August 1st 2007 up until July 31st 2008 and interest is paid on an annual basis and also when the account reaches maturity.

Stuart Fearn, product development manager at Leeds Building Society, said: "Our Direct Saver Plus account is a very attractive proposition because the interest rate will automatically track any increase in the base rate."

A minimum investment of £5,000 is required to open up the account, rising to a maximum of £1,000,000 and the withdrawal minimum stands at £1,000 which can be made without notice.

Leeds Building Society offers a range of savings options to its customers including tax-free, online, easy access and affinity accounts.

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