Earn 4% Cash for 10 Years

After months of cash accounts that barely match the rate of inflation, Leeds Building Society is paying 4% on deposits - but you have to lock it away for a decade

Emma Wall 20 November, 2013 | 2:59PM
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Good news for savers - finally a cash account that pays a healthy rate of interest. The only catch? You have to lock your money away for a decade. 

Since the Bank of England lowered base rate to 0.5% nearly five years ago savings rates have plummeted. Before the global recession it was not uncommon to find savings accounts paying double the rate of inflation - now you are lucky to find a cash bond or ISA that matches it. 

Leeds Building Society cash bond paying 4% is welcome respite from this interest desert, but savers could be forgiven for feeling duped at the 10-year term - especially if interest rates rise before maturity.

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About Author

Emma Wall  is former Senior International Editor for Morningstar