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Leeds launches new investment option
Thu, 24 Aug 2006
Leeds Building Society is launching a new three year investment bond.

Set to become available on August 25th 2006, the investment account offers a guaranteed fixed rate of five per cent in years one and two, which rises to six per cent in year three, amounting to a compounded return of 18.3 per cent for non tax-payers.

Customers will receive full access to funds on December 1st 2008, although access to 25 per cent of the initial investment is available at any time, without fee.

The minimum opening balance of the account is £5,000, with a maximum of £1,000,000, while the interest is paid annually on 1st December each year.

Stuart Fearn, product development manager, remarked, "This account is a very attractive proposition due to offering full penalty free access to funds in the third year and 25 per cent access penalty free prior to this.

"It will appeal to people who want a guaranteed return over three years but it is also excellent for those who are interested in a two-Year Bond."

Leeds also offers one, two and three-year investment accounts, with monthly interest options available.

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