Leeds Building Society has today launched new Fixed Rate ISAs paying up to seven times the current Bank of England Base Rate, complimenting the Society's market leading 5 Year Fixed Rate ISA.
A 3 Year Fixed Rate ISA at 3.50% has been launched, paying seven times the current Base Rate of 0.5%, and this is complimented by a 2 Year Fixed Rate ISA at 3.00%.
Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said, "The opportunity to earn up to seven times the Bank of England base rate, from as little as £1, provides good value. Furthermore, these new ISA products also deliver flexibility and peace of mind with unlimited withdrawals of up to 25% of the initial capital allowed at any time without notice or penalty.
"Also, unlike many other providers, both of these new accounts allow savers to transfer in all of their ISA subscriptions from previous years' plus any interest accrued. These 2 and 3 Year Fixed Rate ISAs will also accept the additional £1,500 allowance for the over 50s, available to anyone born on or before 5 April 1960, which came into effect on 6th October last year. This will enable them to invest up to £5,100 into their ISA with the Society.
"We believe these new products provide the best of both worlds for those people looking for medium term investments. They will be suitable for those investors who are wary of tying up their money for long periods, and also those who don't want to have very short-term accounts within their investment portfolio."
Date: 19th, January, 2010
Author: Charmaine L. Horan
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