Banking/Savings Section

The Leeds Building Society Offers A Competitive 3 Year Bond - Pays Between 5% - 6%

September 2006

The Leeds Building Society is re-launching its 5-5-6 Bond so called because it works like this -

• Gross interest is 5% in both year 1 and year 2
• But in year 3 the interest rate rises to 6% gross
• Savers can withdraw up to 25% of their money in the first 2 years and can have full access in year 3 without any financial penalty
• Minimum opening balance is £5,000, maximum £1million

Summary

The rate of 5%, 5% and then 6% is good but not earth shattering especially as some economists are predicting higher interest rates (due to inflation) over the next few years. Still, the bond does have some flexibility and should be considered amongst other fixed interest products in the market today.

See Also

• The Leeds B.S 5-5-6 Bond
• Top Tip! Manage All Your Online Bank, Savings & Credit Card Accounts From The One Webpage
• Find's list of Savings Accounts