Leeds launches market-leading five year Fixed Rate ISA with access
The latest Fixed Rate ISA from Leeds Building Society is offering longer-term savers a best buy rate of 3.05% tax-free† p.a./AER* (fixed).
In addition to the market-leading return, the new five year cash ISA allows penalty-free access to up to 25% of the initial investment.
The account can be opened with a minimum balance of £1 and savers can invest up to the current annual ISA allowance of £5,760 for the 2013/14 financial year, as well as transfers in from previous years’ ISA funds.
Kim Rebecchi, Leeds Building Society Sales & Marketing Director, said: “Five year fixed rate products have been proving popular with savers so we’re pleased to be able to offer this new market leading Fixed Rate cash ISA.
“Unlike many other Fixed Rate ISAs on the market, the competitive return is accompanied by the benefit of access to up to 25% of the original investment without notice or penalty, should savers need to get at their cash during the term.”
“We expect the combination of a market-leading rate and penalty free access to be popular, and I would urge savers to act quickly as there is a limited tranche available.”
For more information, customers can call into their local branch or call the savings hotline on 08450 540 995.
Notes to Editors
5 Year Fixed Rate cash ISA maturing on 31st March 2019
- 3.05% tax-free† p.a./AER* fixed until 31st March 2019
- Interest is paid annually on 31st March, commencing 31st March 2015
- Interest can be added to the account, transferred or paid to another account with the society
- Minimum Investment £1
- Maximum investment is £5,760 (2013/2014 tax year allowance) and transfers in of previous years ISA subscriptions are permitted.
- Available to ISA subscriptions invested in previous tax years while the product remains open for further investments
- Access to 25% of the opening balance is permitted without penalty
- Further withdrawals/transfers cannot be made without notice or loss of interest prior to maturity (31st March 2019). If a withdrawal is made, the account will be subject to 180 days loss of interest on the amount withdrawn/transferred.
- Available to open in branch, by post or online and can be transacted on via post and branch.
†Tax-free means that interest payable is exempt from income tax.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £10.8bn (as at 30 June 2013). The Society has operated from the centre of Leeds since 1886.