Winter Fuel Saver account launched by Leeds Building Society

A Winter Fuel Saver account designed to help the over 60′s manage their energy bills during winter, has been launched by Leeds Building Society.

The account will pay monthly interest of 5.12% AER until 28 February 2010 when fuel bills are at their highest. The interest then falls to 0.25% AER during subsequent months until 31 August 2010.

A minimum investment of £100 is required and savers should note that no withdrawals can be made until maturity on 1 September 2010.

This is a limited issue savings account so savers who are over 60 years of age need to act soon to benefit.

As Kim Rebecchi, Director of Sales & Marketing says, “The current low interest rate environment has put pressure on many individuals who rely on their savings to supplement their pensions and to pay their bills.”

“Therefore, we have designed this unique product to pay an excellent guaranteed return in a way that helps savers, delivering an up front return at a time when bills are at their highest.”