Back to April 2018

Instant access variable ISA added to Leeds range

Leeds Building Society has launched a 12-month instant access variable rate ISA.

The instant access ISA offers a variable rate of 1.16% tax-free† pa/AER*.

The new Limited Issue Online ISA will offer penalty-free access and accept transfers in from previous years’ ISA subscriptions so savers can maximise the benefits of receiving their interest tax-free.

Richard Fearon, Leeds Building Society’s Chief Commercial Officer, said: “The new tax year is a time for savers to consider their options once again.

“Our variable rate of 1.16% is one of the leading rates on the High Street for this type of product and we know that savers expect and appreciate online access and this variable ISA will enable our members to manage their savings conveniently.

“This product complements our wider tax-free savings range, which offers a choice of fixed terms and easy access products.”

The Society’s new ISA has a minimum investment of £1,000 and matures on Sunday, 2nd June, 2019.

The maximum investment for the 2018/2019 tax year is £20,000, less any amount invested in a Stocks and Shares ISA in the same tax year.

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

Limited Issue Online Access ISA (Issue 6)

  • 1.16% tax-free† pa/AER* variable rate ISA
  • Minimum investment £1,000
  • Maximum investment is £20,000 in 2018/19, plus previous years’ ISA subscriptions to a maximum of £250,000
  • Interest is calculated and paid on maturity (June 2nd 2019)
  • Interest can be credited to the account, transferred to another building society/bank account or to another account held with the Society.
  • Withdrawals/transfers are permitted without notice or loss of interest
  • Can be opened through our website, and can be operated online

Leeds Building Society was named Best Building Society Savings Provider in the Moneyfacts Awards for 2017, having also won this title in 2016.

Leeds Building Society operates throughout the UK, Gibraltar and Ireland and has assets of £18.5bn at 31st December 2017 (£15.9bn at 31st December 2016). The Society’s head office has been based in the centre of Leeds since 1886.