Leeds Three-Year Fixed-Rate Bond altered

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Leeds Three-Year Fixed-Rate Bond altered

A monthly income option has been added to the Leeds Three-Year Fixed-Rate Bond, the company announced today, which will pay an interest rate of 4.8 per cent gross per year.

Customers who choose to receive their interest annually will be offered a rate of five per cent gross per year until May 1st 2009.

A minimum investment of £5,000 is required to open the account and a maximum savings level of £250,000 is permitted for single accounts and £500,000 for joint accounts.

A single withdrawal of 25 per cent of the initial invested capital is allowed at any time without notice or penalty.

"We are trying to ensure that customers receive a very competitive return, whether looking for a guaranteed annual or monthly income," said Stuart Fearn, product development manager at Leeds.

"This product delivers this as well as the peace of mind provided by allowing access to some of the funds, without notice or penalty."

Additional investments will be allowed once the Leeds Three-Year Fixed-Rate Bond commences as long as its issue remains open to the public.

Leeds is the eighth largest building society in the UK with 58 branches and assets of over £7.1 billion.