In support of its savers, Leeds Building Society has increased interest rates on a number of savings accounts. The new rates came into effect on Friday, May 5.
The move comes in an effort from the Building Society to help make sure saver’s cash is “working as hard as it can” for them.
The accounts offering higher interest rates include a selection of easy access, fixed rate, and ISA savings products.
Adam Binns, head of product and pricing at Leeds Building Society, commented: “We know that many savers are taking a more proactive approach to managing their finances this year, and are making sure their cash is working as hard as it can for them.
“Now is a great time for savers to review their accounts to ensure they have the best solution for their current needs.”
READ MORE: Bank increases interest to ‘excellent’ 4.85 percent on fixed saver
Here is a rundown of the accounts offering new, increased interest rates.
One Year Fixed Rate ISA (Issue 184) – 4.25 percent
Leeds Building Society’s One Year Fixed Rate ISA is now offering an Annual Equivalent Rate (AER)of 4.25 percent.
The interest rate will remain fixed until June 30, 2024, and withdrawals and/or transfers are permitted, however, these will be subject to 60 days loss of interest.
Interest is applied annually on June 30, 2024, and can be paid into the account, transferred, or paid to another account with the Society.
The account requires a minimum opening balance of £100, and up to £20,000 can be deposited in the 2023/24 tax year. Savers can launch the account online, by post or by branch, but it can only be operated by post or branch.
Limited Issue Online Access ISA (Issue 59) – 3.4 percent
Leeds Building Society’s Limited Issue Online ISA is now offering a variable AER of 3.4 percent.
Interest is applied on maturity (June 30, 2024) and can be added to the account, transferred or paid to another account with the Society.
The minimum balance is £1,000 and unlimited withdrawals can be made without notice or loss of interest.
Limited Issue Online Access Account (Issue 44) – 3.4 percent
Leeds Building Society’s Limited Issue Online Access Account is an easy access savings account and now offers a variable AER of 3.4 percent.
Interest is paid on maturity (June 30, 2024) and interest can be added to the account, transferred or paid to another account with the Society.
Like the easy access ISA, the minimum balance to open the account is £1,000, but up to £1million can be invested overall. Unlimited withdrawals can be made without notice or loss of interest.
Limited Issue 15 Month Fixed Rate Bond (Issue 6) – 4.4 percent
Leeds Building Society’s 15 Month Fixed Rate Bond is now offering an AER of 4.4 percent until September 30, 2024.
Interest is applied annually, commencing June 30, 2024, and on maturity on September 30, 2024. Interest can be added to the account, transferred or paid to another account with the Society.
Savers can open the account with a minimum deposit of £1,000 and up to £1million can be invested overall. No withdrawals are permitted prior to maturity.
