New one year fixed rate ISA best on the High Street
Leeds Building Society is improving the return on its one year fixed rate ISA, launching a new product at 1.01%% tax-free† pa/AER*.
This is the highest rate on a one year fixed rate ISA from a High Street provider and will be available from Thursday, 24th November.
It means all the Society’s current fixed rate products – including ISAs and bonds – pay at least 1%.
The Society’s tax-free savings range includes one, two and three year fixed rate ISAs, as well as variable rate products.
“Our new one year fixed rate ISA offers the best return on the High Street for this type of product,” said Richard Fearon, Leeds Building Society’s Chief Commercial Officer.
“Increasing the rate we can offer on a one year product means all our current fixed rate ISAs, as well as our fixed rate bonds, pay more than 1%.
“All our ISAs accept transfers in of previous years’ subscriptions and the minimum deposit for fixed rate ISAs is £100.”
The Society also launches a new, limited-issue one year fixed rate bond (Issue 251) on 24th November, paying 1.01% gross pa/AER*.
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.
One year fixed rate ISA (Issue 91)
- 01% tax-free† pa/AER* fixed until 2nd January 2018
- Minimum Investment £100
- Maximum investment for the 2016/2017 tax year is £15,240, less any amount invested in a Stocks and Shares ISA in the same tax year
- Deposits for the 2016/17 tax year can be made up to and including 31st January 2017. After this date the account may be closed for further deposits at any time and without notice.
- Interest paid on maturity on 2nd January 2018
- Interest can be added to the account, transferred or paid to another account with the Society
- Transfers in of previous years’ ISA subscriptions permitted
- Withdrawals permitted, subject to 60 days' loss of interest
- Available to open in branch, by post and online; can be operated in branch or by post
Leeds Building Society won the awards for Best Building Society Savings Provider and Innovation in Personal Finance (Part and part mortgages) at the 2016 Moneyfacts Awards.
The Society also has been named ‘Best Regular Savings Account Provider’ for the second consecutive year by independent consumer advice website Savings Champion.
Leeds Building Society has 65 branches throughout the UK, Gibraltar and Ireland and assets of £14.9bn (at 30th June 2016). The Society has operated from the centre of Leeds since 1886.