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Leeds Building Society launches postal bond with unlimited access

Leeds Building Society has launched a new postal bond, which can offer a rate of 6.47% AER and unlimited penalty free access to funds for customers, at any time.

The rate is fixed until April 30, 2008, at which point the balance will be transferred to a base rate tracking account that guarantees to match Bank of England base rate until November, 2010. The new bond facilitates customers to withdraw their funds at any time without notice or penalty.

Karen Wint, general manager marketing and customer services at Leeds, said: The short term nature of this bond makes it ideal for those people who may want to hold their savings into the new tax year before interest is paid.