Market-leading tax-free returns among latest Leeds launches
Leeds Building Society has bolstered its tax free savings range with the launch of three new fixed rate ISAs:
- Two year fixed rate ISA with a rate of 1.20% tax-free† pa/AER*
- Three year fixed rate ISA with a rate of 1.30% tax-free† pa/AER*
- Five year fixed rate ISA, with a rate of 1.55% tax-free† pa/AER*
“The two and three year fixed rates are market leading and the rest of our ISAs are among the best on the High Street,” said Richard Fearon, Leeds Building Society’s Chief Commercial Officer.
“Most savers are better off through the introduction of the Personal Savings Allowance§ but there’s still a place for tax-free saving through ISAs, which protect your money from the taxman in the longer term.
“All our ISAs allow transfers in of previous years’ subscriptions so savers can maximise this benefit.
“All our fixed rate ISAs pay above 1%, more than four times the current Bank Base Rate.”
Leeds Building Society’s fixed rate ISAs have a minimum investment of £100 and its range includes two variable rate ISAs which can be opened with as little as £1.
The 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.
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.
§From 6th April 2016, basic rate taxpayers can earn up to £1,000 in savings income tax-free. Higher rate taxpayers can earn up to £500.
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.
Leeds Building Society operates throughout the UK, Gibraltar and Ireland and has assets of £14.9bn (at 30th June 2016). The Society’s head office has been based in the centre of Leeds since 1886.