Leeds pays 3.05% on easy access account
A new online easy access savings account launched this week by Leeds Building Society pays interest at 3.05%.
For a minimum investment of £100, savers are offered unlimited penalty-free access to their cash, with no advance notice required.
Kim Rebecchi, Leeds’ director of sales and marketing, said: “A return of 3.05%, combined with the flexibility of online functionality and penalty free access, make this product absolutely fantastic value.”
The catch, however, is that the headline interest rate includes a 1% bonus that only lasts twelve months, ending on 31 July 2010.
Furthermore, the interest rate is variable rather than fixed, making liable to fluctuate either up, or – more likely in today’s climate of low interest rates – down.
Interest on the account is paid annually.
Established in 1886, Leeds Building Society has 70 branches in the UK, Ireland, and Gibraltar.