Fixed ISAs cement chart positions | Product News - Moneyfacts

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Fixed ISAs cement chart positions

Fixed ISAs cement chart positions

Category: ISAs
Date: 07/07/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Leeds Building Society has increased the rates of select ISAs by up to 0.10%, securing its one and five-year deals places in the Moneyfacts charts.

The basics…

1 Year Fixed Rate ISA Issue 73 now pays 1.55% on maturity (31.8.16), allowing it to move into the charts and secure a top-10 place. Meanwhile, the five-year version (Issue 47) now pays 2.20% yearly until 31.8.20, which also enables it to take a place in the charts.

The finer details…

Both accounts can be opened in branch, by post and online and then managed in the same way except online. An initial investment of at least £100 is required.

Further additions can be made until 31.8.15 and it is also possible to transfer in existing ISA savings. Unusually, savers are also allowed to withdraw up to 25% of the invested capital penalty-free, although further withdrawals will result in a 60-day interest penalty for the one-year ISA and a hefty 365-day penalty for the five-year variant. These penalties will also apply to transfers out.

Why we like them…

Both of these ISAs have cemented their position in the charts thanks to their eye-catching rates, but it is their additional flexibilities that really make them stand out. The fact that a quarter of invested funds can be withdrawn penalty-free will appeal to those who don't want to lock all of their funds away, although savers must bear in mind that withdrawing more than this amount can result in hefty interest penalties.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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