Leeds Building Society launches high long-term ISA and TOISA rates

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Leeds Building Society launches high long-term ISA and TOISA rates

Fri 25th Aug 2006

Leeds Building Society is launching a new 5-year fixed rate ISA and TOISA paying a guaranteed tax-free return of 5.2 per cent until October 1st 2011.

On top of this attractive rate customers will also have the option to make unlimited withdrawals of up to 25 per cent of the initial balance.

According to the building society the new product will be particularly attractive to investors who are looking to receive a guaranteed rate for a longer term than usual.

Stuart Fearn, product development manager at Leeds Building Society, explained: "There are many ISA customers that have paid in the maximum allowance each year, resulting in a capital balance of £24,000 floundering in accounts earning poor rates of interest.

"Therefore, it would be very worthwhile for them to transfer the balance across to our high rate of 5.2 per cent. This account has the added attraction of being guaranteed for five years, and allowing access to 25 per cent of the initial balance."

He said that since many customers now treat their ISA's as long-term savings plans the extended guarantee on this account is particularly suited to such an investment.

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