Leeds Reward bond maximum balance increased

Leeds Building Society has announced that the maximum balance for its Leeds Reward Bond will now be £10,000.

This is double the previous maximum balance on offer of £5,000, and climbs to £20,000 for joint accounts.

The changes were made following extra funding and feedback from investors in the bond.

Karen Wint, head of marketing & PR, said: "Clearly customers are attracted to the 5 per cent guaranteed return and, even though we have obtained more funds, it is impossible to know how long we can keep the product available given the current level of demand."

She went on to say that due to the high demand for the product, it is impossible to know how much longer it will be available.

The minimum investment for the bond remains the same at £100, and all money invested cannot be withdrawn before the maturity date of March 1st 2007.