New savings bond will help families affected by dementia

The three-year fixed-rate bond pays 1.15% interest and Leeds Building Society will make a donation to Dementia UK based on total balances saved.

A savings bond which will help families affected by dementia has been launched by Leeds Building Society (Leeds Building Society/PA) (PA Media)

A savings bond which will help families affected by dementia has been launched by Leeds Building Society.

The three-year fixed-rate bond pays savers 1.15% interest and the society said it will make a donation to Dementia UK based on total balances saved.

The account can be opened online, in branch or by post and a minimum of £100 must be put away.

The donations received will allow us to provide more life-changing care and support

Dr Hilda Hayo, Dementia UK

Deposits can be made up to and including October 31 2021. No withdrawals within the three-year period are permitted so savers must be sure they can lock their money away for that time.

Leeds’ four-year partnership with Dementia UK was launched last year and has so far raised over £250,000 for the charity.

Dr Hilda Hayo, CEO and chief Admiral Nurse at Dementia UK, said: “The donations received will allow us to provide more life-changing care and support through dementia specialist Admiral Nurses.”

Matt Bartle, director of products at Leeds Building Society, said: “Through products like this we are able to give savers a competitive rate, while also knowing they are helping others and making a difference.”