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.
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.
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.
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
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