Leeds BS has launched a new market-leading five-year ISA which heads straight to the top of the Moneyfacts best buys.
The 5 Year Fixed Rate ISA Issue 38 pays 2.85% to 30.6.19. Unusual in the fixed ISA market, this product has the advantage of penalty-free withdrawals of up to 25% of the initial investment.
The finer details…
The product can be opened in branch, by post or online and can then be operated by branch or post. A minimum investment of £100 is required.
Further additions are allowed whilst the issue remains open and customers will be able to top up to the 2014/15 allowance of £15K during July 2014, however, the account does not accept transfers in from other ISAs. After the initial penalty-free allowance, earlier access to the full amount is permitted on the loss of 180 days' interest.
Why we like it…
With its market-leading rate of interest and the option to withdraw up to 25% of the investment penalty-free adding to the benefits, this is a great deal for those that are looking for longer-term savings.
Four Moneyfacts Stars have been awarded.
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 Any products featured may be withdrawn by their provider or changed at any time.
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