Competitive ISAs added to Leeds Building Society’s savings range
Leeds Building Society is launching a range of competitive new fixed rate ISAs to complement its existing variable rate accounts.
On Tuesday, 7th April, the Society is launching the following ISAs for the new financial year:
- 1.60% tax-free† pa/AER* one year fixed rate cash ISA
- 2.10% tax-free† pa/AER* two year fixed rate cash ISA
- 2.20% tax-free† pa/AER* three year fixed rate cash ISA
“Our new fixed rate ISAs launching for the start of the next financial year complement our existing variable rate ISAs - Everyday ISA and E-ISA – which also have a competitive return of 1.25% tax-free† pa/AER*,” said Kim Rebecchi, Leeds Building Society’s Distribution and Marketing Director.
“Early birds wanting to open one of our ISAs online can actually do this before the start of the new financial year – they can apply online from Saturday, 4th April, and we can then accept their deposit when we re-open after the Easter Bank Holiday weekend on Tuesday, 7th April.
“We aim to make saving simple and straightforward and having an ISA is the only way you can currently receive your interest tax-free, which makes your money work that little bit harder.
“Of course, opening an ISA at the very beginning of the new financial year maximises the length of time you can receive this benefit and we encourage all savers to make full use of their annual allowance which was raised to £15,240 in the Budget earlier this month.”
Leeds Building Society’s Everyday ISA and E-ISA allow unlimited withdrawals without notice and can be opened with as little as £1.
The minimum opening balance for the Society’s fixed rate ISAs is £100 and up to £15,240 (the ISA allowance for the 2015/16 financial year) can be invested. All Leeds Building Society’s fixed rate ISAs allow savers access to 25% of their capital investment without penalty during the term of the product.
All Leeds Building Society cash ISAs allow transfers in of previous years’ ISA subscriptions, including Stocks and Shares ISAs.
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.
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’, both for the second consecutive year, and winning 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 31st December 2014). The Society has operated from the centre of Leeds since 1886.