Money News
6th August 2008
The Leeds unveils revamped savings offerings
The Leeds Building Society has unveiled new versions of its Inflation Buster ISA and Bond, which it claims will help customers see a real return on their savings despite the soaring cost of living.
The new accounts offer savers an interest rate on their deposit which is guaranteed to be 2.25 per cent above inflation.
Karen Wint, general manager of the firm's marketing and customer services division, said that she expects strong take-up for the products in the wake of swingeing hikes to energy prices in recent weeks.
Ms Wint commented: "Savers have seen their real return eroded with prices increasing by 4.58 per cent in the last twelve months and, with the prospect of rising inflation, we expect demand for these latest Inflation Buster ISA and Bonds to be very strong."
UK inflation is being driven principally by the rise in oil prices noted over the last six months in which time it hit a new record of $147 per barrel.
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