Leeds Building Society launches new postal account

Monday, 30 January 2012 02:40

A new postal account for savings customers has been launched by Leeds Building Society in a bid to provide a good rate as well as flexibility.

The product pays an underlying variable rate of 1.50 per cent plus a 1.51 per cent bonus until February 28th 2013, meaning the interest rate for this period is 3.01 per cent gross/AER.

After this time, the rate will revert back to the standard variable of 1.50 per cent AER.

The minimum operating balance is £5,000 and customers will have unlimited access to their money at any time, so they do not need to be worried about nest eggs being unavailable for emergencies.

Leeds Building Society sales spokesperson Kim Rebecchi said: "We know from previous accounts with these features that the high rate combined with unlimited access will be very popular and I would urge people to act quickly as this is a strictly limited issue."

The same company recently launched a two-year discount mortgage product at a rate of 5.25 per cent for those with a five per cent deposit.

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