Unique 18 Month Fixed Rate Cash ISA launched by Leeds Building Society
Leeds Building Society is adding to its portfolio of tax free savings products with a new 18 Month Fixed Rate Cash ISA paying a market-leading rate of 1.65%/1.64% tax-free† p.a./AER*.
The 18 month term is unique in the Cash ISA market and offers more choice for savers seeking competitive returns which are tax free.
“Our unique new ISA with an 18-month maturity complements our existing range of competitive Fixed Rate Cash ISAs,” said Kim Rebecchi, Leeds Building Society’s Distribution and Marketing Director.
“In addition to the attractive rate of return, it offers savers more choice about how long they want to lock in their investment and can be opened with as little as £100.
“Transfers in of ISA subscriptions from previous years are permitted and, as with our other Fixed Rate Cash ISAs, savers can enjoy penalty-free access of up to 25% of their initial investment.”
The ISA personal allowance was increased last July to £15,000 for the current financial year.
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.
18 Month Fixed Rate Cash ISA Builder, maturing on 31st August 2016
- 1.65%/1.64% tax-free† p.a./AER* fixed until 31st August 2016
- Interest is paid on maturity on 31st August 2016
- Interest can be added to the account, transferred or paid to another account with the Society
- Minimum investment £100
- Maximum investment £15,000 (2014/2015 tax year allowance)
- Withdrawals of up to 25% without notice or loss of interest. Further withdrawals, closure/transfer subject to 105 days’ interest penalty.
- Transfers in of previous years ISA subscriptions are permitted
- Available to open in branch, by post or online and can be operated via post and branch.
Leeds Building Society has won four awards for innovation in the past 12 months, including being named ‘Innovator of the Year’ at the Moneywise Magazine Mortgage Awards 2014 for its Welcome Mortgage. This allows borrowers to pay 0% interest for the first few months of their term so they can free up cash to help them settle into their new home.
The Society scooped the ‘Mortgage Innovation Award’ and was named ‘Most Innovative Personal Finance Provider’ at the Moneynet Personal Finance Awards 2014, and also received the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2015, in addition to being named ‘Best Intermediary Lender’ for the second consecutive year and receiving the award for ‘Best Use of Technology (Lenders)’.
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.