Leeds Building Society: ISA offers 7 times base rate

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Leeds Building Society: ISA offers 7 times base rate

Leeds Building Society has announced that currently its individual savings account (ISA) offering pays interest at seven times the Bank of England's base rate.

According to the financial services provider, the two-year, fixed-rate ISA is a best buy at the moment, offering 3.15 per cent interest compared with the Bank of England's 0.5 per cent base rate.

The ISA also allows customers to withdraw up to 25 per cent of their total funds each year without incurring any penalties and can be opened with a balance of £1.

Kim Rebecchi, director of sales and marketing for Leeds Building Society, said: "The opportunity to earn up to seven times the Bank of England base rate, from as little as £1, is a market leading offer and provides outstanding value."

Recently, Alistair Darling announced he will be increasing the threshold for tax-free savings in ISAs from next year.

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