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Five Year Fixed Rate ISA added to Leeds Building Society's tax-free savings range

Leeds Building Society is launching a new five year Fixed Rate Cash ISA paying 2.25% tax-free pa/AER* on Friday, 28th November.

The Society is adding to its range of tax-free savings with the new ISA, for savers to benefit from a more competitive return if they are able to lock away their cash for the longer term.

All Leeds Building Society Fixed Rate Cash ISAs can be opened with as little as £100.

Up to this year's tax-free allowance of £15,000 can be deposited in the new Five Year Fixed Rate Cash ISA. Transfers in of previous years' ISA subscriptions are also permitted.

"This new Five Year Fixed Rate Cash ISA adds to the choice for savers looking for tax-free returns, if they're able to put away their money for the longer term," said Kim Rebecchi, Leeds Building Society's Distribution and Marketing Director.

"In addition to the competitive rate, this product has the attraction of access to 25% of the capital investment without penalty during the term.

"We would encourage all savers to have an ISA, to ensure your nest egg works a little bit harder, and make the most of your annual Cash ISA allowance, which rose this summer to £15,000 per adult."

Ends

Notes to Editors

†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.

Key Features

5 Year Fixed Rate ISA

  • Interest is paid annually on 2nd February, commencing on 2nd February 2016, and on maturity on 2nd February 2020
  • Interest can be added to the account, transferred or paid to another account with the Society
  • Minimum Investment £100
  • Maximum investment is £15,000 (2014/2015 tax year allowance)
  • Transfers in of previous years ISA subscriptions are permitted
  • Access to 25% of the capital investment is permitted without penalty
  • Further withdrawals, closure or transfers subject to 365 days' loss of interest on the amount withdrawn/transferred.
  • Available to open in branch, by post or online and can operated via post and branch.

Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £12.1bn (as at 30 June 2014). The Society has operated from the centre of Leeds since 1886.