A savings review by Leeds Building Society has seen it increase five-year bond rates by up to 0.75% as well as launch chart-topping five-year ISAs.
The five-year fixed Rate Access Bond Issue 1 now pays a market-leading 2.75% yearly. Savers will also benefit from the ISA version of this account – Access ISA Issue 1 paying the same rate.
At the same time as increasing rates on its Access Bonds, Leeds BS also launched a chart-topping 5 Year No Access Bond paying 3.00% yearly. Again there is an ISA version paying the same top rate.
For the Access account, savers must invest a minimum of £100 up to a maximum of £1 million. Penalty-free withdrawals of up to 25% of the capital invested are permitted prior to maturity. For the Access ISA, savers must invest a minimum of £1.
As the name suggests, the No Access account paying 3.00% doesn't allow early access or fund withdrawals. Again savers must invest a minimum of £100 up to a maximum of £1 million. For the No Access ISA, savers must invest a minimum of £1.
This savings review from Leeds BS sees it launch two market-leading options for savers looking for a long-term bond.
Investors who know they will not need early access to funds will benefit from the chart-topping five-year option paying 3.00%, while those looking for some flexibility can choose the 2.75% option.
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