Fixed rate ISAs storm the charts | Product News - Moneyfacts

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Fixed rate ISAs storm the charts

Fixed rate ISAs storm the charts

Category: Savings
Date: 06/03/2015

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 It is now over 6 months old so the content may be out of date.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 given its ISA offerings a boost by increasing selected rates by up to 0.20% as well as introducing a new three-year fixed rate product. As a result, two of its deals have entered the Moneyfacts charts and secured a footing in the top 10.

The basics…

The most competitive deal is offered by the 5 Year Fixed Rate ISA Issue 44, which now pays 2.30% yearly until 30.4.20, enabling it to sit just behind the market-leader for its sector. The next best deal is the two-year version (issue 64), which pays a competitive rate of 1.80% yearly until 1.5.17, allowing it to sit comfortably among the top 10.

Meanwhile, the one-year equivalent (issue 69) pays 1.50% yearly to 2.5.16 and the new three-year variant (issue 38) pays 2.00% yearly until 30.4.18.

The first interest payments will be made on 30.4.16.

The finer details…

These accounts can be opened online, in branch and by post and then operated by the same means except from online. A minimum investment of just £100 is required.

Further additions are permitted until 30.4.15 and transfers in from other cash ISAs are also allowed. Unusually, it is possible to make penalty-free withdrawals of up to 25% of the invested funds, after which a 365-day loss of interest penalty will be incurred, the same penalty as applies to transfers out.

Why we like them…

These ISAs offer savers a range of attractive rates, but it is the five and two-year deals that really shine. Both offer highly attractive rates that allow them to sit comfortably in the top 10 of their respective sectors, something that is sure to grab the interest of savers. These ISAs also offer savers considerable flexibility, with transfers in, further additions and withdrawals permitted. However, savers must think carefully about making any withdrawals, as going over the 25% limit will incur a hefty 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 Any products featured may be withdrawn by their provider or changed at any time.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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