Leeds Building Society Winter Fuel Saver unveiled

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Leeds Building Society Winter Fuel Saver unveiled

Thu 27th Aug 2009

Leeds Building Society has launched the Winter Fuel Saver account, which pays out more interest when energy bills are expected to be highest.

The account offers an overall interest rate of 2.66 per cent, but customers will receive 5.12 per cent during the winter months.

Kim Rebecchi, director of sales and marketing at the organisation, noted that it was important for some savers to get a high rate of return during the months when they would have the biggest utility bills to pay.

She said: "The current low interest rate environment has put pressure on many individuals who rely on their savings to supplement their pensions and to pay their bills."

The account, which is only available to the over-60s, pays the upper rate of 5.12 per cent until the end of February then drops to 0.25 per cent up to the last day in August.

The price comparison site moneysupermarket.com recently claimed that over-50s are not being offered competitive interest rates for their savings accounts, so they should keep an eye on easy-access deals that might pay out more.

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