Leeds bond 'guarantees income return'

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Leeds bond 'guarantees income return'

Thu 19th Apr 2007

Leeds Building Society has launched a high interest bond which guarantees a return of consumers' income at the end of the term.

The Leeds bond will be divided between the Leeds option bond and Norwich Union's portfolio, with a weighting of 40 and 60 per cent respectively.

Enabling a maximum investment of £250,000, the Leeds bond element of the package allows for monthly or annual interest to be paid.

Providing the minimum balance is maintained, consumers can also make one withdrawal without loss of interest before April 30th 2008.

The Norwich Union portfolio slice of the deal offers a range of investment options and has no fixed term.

With a minimum investment of £5,000, the bond provides a guarantee that the investor will receive at least their original investment when a five-year term expires.

Trevor Garside, head of financial services at the group, said: "This product is ideal for customers looking for opportunities to benefit from stock market based investment returns whilst retaining guarantees of capital return, combined with the opportunity to earn up to nine per cent until 30th April 2008."

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