Leeds BS launch ISAs that offer access to top savings account

Thursday, 14 March 2013 01:39

Leeds Building Society has unveiled a new set of fixed rate cash ISA products that allows investors access to a market leading 30 day notice account that pays 2.35 per cent.

For investors still looking for somewhere to park their ISA allowance of £5,640 for the 2012-13 tax year, the Leeds BS has launched a one-year fixed rate cash ISA that pays 2.0 per cent, a two-year fixed rate cash ISA that pays 2.35 per cent and a three-year fixed rate product that pays 2.60 per cent.

Additionally, the Leeds has unveiled a two-year base rate tracker which guarantees to pay 1.75 per cent above the Bank of England base rate for two years, giving it a current rate of 2.25 per cent.

Customers for all of these accounts qualify for the 30-day notice account that pays 2.35 per cent and could be a good place for investors to put in any additional funds above the ISA allowance that they want to invest.

If an ISA customer puts money in the 30 day notice account now and then chooses a Leeds ISA for the 2013-14 tax year, they can transfer without giving any notice.

All of the tax-free ISA products offered by the Leeds BS allow savers to access up to 25 per cent of the funds without penalty or notice at any time and transfers-in of ISA balances from other providers from previous years are allowed.

Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said: "Over 30% of our members have an ISA account with us so we know that it is important for them to maximise the benefit from tax free savings. An ISA allowance cannot be carried forward from one tax year to another, and if people do not use their £5,640 2012/ 2013 allowance before Friday 5th April they will lose it forever.

"The new 2013 / 2014 tax year starts on a Saturday so customers can place funds in our market leading 30 day notice account now, choose an ISA with the Society and transfer their subscription without giving the 30 days notice. We have also extended the opening hours for many of our branches on Saturday 6th April to allow customers to maximise their tax free return."


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