Leeds BS has launched a five year fixed rate escalator ISA that guarantees rising rates each year. The rate increases as follows: A minimum investment of £1 pays 2.75% yearly (2.50 monthly) to 31.3.10; 3.00% (2.75%) to 31.3.11; 3.25% (3.00) to 31.3.12; 3.50% (3.25%) to 31.3.13; and 3.75% (3.50%) to maturity on 31.3.14. Penalty free withdrawals are permitted up to 25% of initial capital, with further withdrawals subject to 90 days' loss of interest, as are outward transfers. Transfers in are allowed whilst the issue remains open, while further additions are permitted until 5 April this year - allowing clients to make full use of this tax year's ISA allowance. This ISA offering from Leeds BS is the only product of its kind in the marketplace and will appeal to many investors because of its facility allowing penalty free access to some funds. It earns four out of five Moneyfacts stars.
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