New market-leading 3-yr fixed rate ISA | Product News - Moneyfacts

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New market-leading 3-yr fixed rate ISA

New market-leading 3-yr fixed rate ISA

Category: ISAs
Date: 13/08/2015

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 It is now over 6 months old so the content may be out of date.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 unleashed a highly competitive three-year fixed rate ISA onto the market, which has stormed straight into a market-leading position for its attractive rate and terms.

The basics…

3 Year Fixed Rate ISA Issue 40 pays 2.30% yearly until 30.9.18 - the top rate for its term - earning it a coveted place in the Moneyfacts charts.

The finer details…

This account can be opened in branch, by post and before becoming branch or postal-operated. An initial investment of at least £100 is required. Savers should note that the first interest payment will be made on 30.9.16.

This ISA offers an unusual amount of flexibility for a fixed rate product, allowing savers to make further additions until 30.9.15 as well as transfers in of existing cash and stocks & shares ISAs. Penalty-free withdrawals of up to 25% of the invested funds are also permitted, although subsequent withdrawals will result in the loss of 240 days' interest, the same penalty as applies to transfers away.

Why we like it…

The market-leading rate of this account is sure to ignite the interest of hard-pressed savers while its additional flexibilities of further additions, transfers in and withdrawals of up to 25% of the invested funds add some extra charm. However, savers must ensure that they stay within the withdrawal limitations to avoid the hefty interest penalty.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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