Leeds Building Society: New savings account launched
www.moneynews.co.uk > Banking > Leeds Building Society: New savings account launched
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Money News |
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Leeds Building Society: New savings account launched
Wed 3rd Dec 2008
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The new five-year fixed-rate escalator individual savings account (ISA) will pay interest rates of up to five per cent, rising incrementally from three per cent throughout the term of the account.
Customers who need to withdraw a portion of their savings will be able to do so at any time and will not incur financial penalties if the portion is 25 per cent or less of the initial amount invested.
Karen Wint, general manager of marketing and customer services for the building society, said: "There is no doubt that this type of branch-based long-term fixed-rate product is attractive, particularly with many market commentators predicting further cuts in the base rate into 2009."
Analysts are saying that the Bank of England is expected to cut interest rates by a further percentage point on December 4th.
Click here for more savings account news
Related News : Banking |
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