Updated fixed ISAs will enter the charts | Product News - Moneyfacts

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Updated fixed ISAs will enter the charts

Updated fixed ISAs will enter the charts

Category: Savings
Date: 02/04/2015

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 It is now over 6 months old so the content may be out of date.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 amended the rates of selected fixed rate ISAs by up to 0.30% in preparation for the new ISA season. As a result, three of its fixed rate deals will be entering the Moneyfacts charts.


The basics…

1 Year Fixed Rate ISA Issue 70 will pay a competitive rate of 1.60% on maturity (31.5.16), while its two-year counterpart (issue 65) will pay from 1.70% to 2.10% yearly until 31.5.17, depending on the amount invested. The three-year variant (issue 39) will pay a yearly rate of 2.20% until 31.5.18.


The finer details…

These accounts can be opened in branch, by post and online and managed in the same way, except online. A minimum investment of £100 is required, although to achieve the higher rate of 2.10% for the two-year ISA, a higher deposit of £15,000 is needed. Savers should note that the first interest payment will be made on 31.5.16.

All accounts accept further additions until 31.5.15, while transfers in of cash ISAs are accepted at any time. Unusually, 25% of the deposit can be withdrawn penalty-free before maturity, although subsequent withdrawals will result in a 240-day loss of interest penalty. This penalty also applies to transfers out.


Why we like them…

All three of these ISAs offer savers competitive rates, which is sure to aid their popularity among savers. Enhancing their appeal yet further are the additional flexibilities of being able to make further additions and withdraw up to 25% of the deposited funds penalty-free, which ensures their status as Moneyfacts best buys.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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