New Fixed Rate ISA From Leeds Building Society
Published: 2 March 2010 By MoneyHighStreet Staff Leave a Comment
Leeds Building Society has launched a new 5 Year Fixed Rate ISA paying a high tax-free interest rate coupled with unlimited access to 25% of the ISA amount invested at any time.
The new fixed rate ISA from Leeds pays 4.60% tax-free. There’s a minimum opening balance of only £1 and the flexibility of being able to access 25% of the sum invested without loss of interest or notice period required.
Previous year ISA subscriptions can be transfered into this ISA plus any interest accrued as well as the additional £1,500 tax-free cash allowance, which is available to anyone born on or before 5th April 1960.
Kim Rebecchi, Leeds Building Society’s Sales and Marketing Director said, “The opportunity to earn a fixed rate of 4.60% interest tax-free for five years, from as little as £1, is a great offer and provides outstanding value. Furthermore, our new 5 Year Fixed Rate ISA delivers flexibility and peace of mind with unlimited withdrawals of up to 25% of the capital allowed at any time, without notice or penalty.”
The rate of 4.60% is fixed until 30th April 2015 and interest is paid annually on 5th April commencing on 5th April 2010 and on maturity (30th April 2015).
Whilst withdrawals of up to 25% of the initial investment can be made without notice or loss of interest at any time, if further withdrawals are made or the account is closed the account will be subject to 180 days loss of interest.
This new fixed rate ISA from Leeds may well be of particular interest to those who are still deciding where to invest their money this year and are yet to use their annual cash ISA allowance or want to switch their existing cash ISA balances to get a better deal.