Tiers set to put smiles on commercial savers' faces 26 / 09 / 2011

COMMERCIAL savers in the Midlands are set to make their money work even harder, thanks to Leek United's introduction of a tiered Business Deposit Account.

The Society originally launched the product earlier this year, with the aim of helping the surplus funds of companies and partnerships to go that little bit further.

Initially offering an attractive 1.25% interest rate for the minimum balance of £10k and above, the account now pays two additional levels of interest: 1.5% for balances of £50k+, and 1.75% for £100k+, up to a maximum balance of £1million.

Alan Embury, Leek United's Savings Controller, said: "When we introduced our Business Deposit Account, the majority of rates available to businesses within the Society's branch network were already well below what we were originally offering.

"We believe that by building in these extra tiers, it will give commercial customers additional assurance and peace of mind that their money can work even harder for them, safely invested with Staffordshire's largest independent mutual building society."

Leek United's Business Deposit Account has already been given a four-star rating by Moneyfacts, the UK's leading independent financial researcher.

The account can be operated through either Leek United's network of branches or post, and offers the flexibility of deposits and withdrawals made via cheque, BACS or CHAPS transfers.

Leek United has featured regularly in national newspapers' ‘Best Buy' sections for the quality of its financial products. To find out more about its new Business Deposit Account and range of other competitive products, visit www.leekunited.co.uk