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Leeds Building Society

Type: One-year fixed-rate postal bond.

Description: Leeds Building Society is set to launch a one-year year fixed-rate postal bond paying 6.85 per cent gross a year/AER.

Conditions: Customers are allowed one withdrawal of up to 25 per cent of the amount invested at any time without notice or penalty. Furthermore, there are also monthly interest options paying 6.8 per cent AER, or 6.6 per cent gross a year, for customers who require an income.The minimum investment is £5000 and there is a maximum limit of £1m for individuals or £2m for joint accounts. Additional investments can be made to the account while the issue remains open. The product may be withdrawn at short notice.

Contact: www.leedsbuildingsociety.co.uk or call 08450 540 995.

Verdict: With a rate of 6.85 per cent this product comes in line with, and actually above, many of its competitors. The downside is that it is a postal account. However, the withdrawal facility is most useful and could appeal to some investors as investment levels are designed so that it appeals to all investors.

Rating: 3/5