Five per cent interest guaranteed by L&H

Leeds & Holbeck has announced the launch of its new Direct Saver Plus scheme - offering five per cent interest.

12:17 07 May 2004

Leeds & Holbeck has announced the launch of its new Direct Saver Plus scheme - offering five per cent interest.

The UK's eighth largest building society says the account is aimed at those "looking for a guaranteed rate without having to tie up their funds."

It is guaranteed to pay at least five per cent interest until May 31st 2005, after which time it will match or better the Bank of England Base Rate until May 31st 2007.

Talking about the account, the head of marketing and public relations Tony Burdin said it offers "cast iron rate guarantees" and "penalty-free access" to funds.

He feels, as a result, customers, "have the best of both worlds", and urges prospective investors to apply as soon as possible "to avoid disappointment."

Customers have the opportunity to access their money at any time, without notice or loss of interest. Withdrawals must be a minimum of 1,000, and the minimum operating balance of 5,000 must still be maintained.

The maximum investment is 100,000 for single applicants and 200,000 for joint applications. The minimum starting balance is 5,000.

Customers who apply online will additionally receive a booklet of vouchers, which entitles them to half price leisure breaks in the UK and Ireland.