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Leeds launches market leading savings products paying up to 3%

4th September 2013 Print

Leeds Building Society has announced the launch of not one, but four market leading savings products and is offering a 5-Year Fixed Rate Bond and ISA, both paying 3.00%, with the ISA paying 0.50% more than the next best in the market.

Furthermore, the Society has also unveiled market leading 5-year versions of these products at 2.75%, for those customers who like the flexibility and peace of mind of 25% penalty free access to their funds at any time.
Kim Rebecchi, Leeds Building Society Sales & Marketing Director commented, "We know that savers are looking for value, security and, where possible, a return that is higher than the current rate of inflation.
"Whilst the traditional ISA season is in March and April each year, around the tax-year end, our research showed us that circa £7.4bn of fixed rate ISA balances mature in Q4 2013. It also highlighted that a further £26.7bn of non-ISA bonds are maturing during the same period, which means that many savers will now be looking to maximise their returns.
"That is why we have launched these market leading products paying 3%, and 2.75% for those who require the peace of mind of access to some of their funds without notice or penalty."
The 5-Year ISA paying 3.00% is available for both the 2013/2014 tax-year subscription of £5,760 and the transfer in of previous years ISA subscriptions from other providers. Those customers who have used their tax free allowance in full each year since inception could have balances of over £60,000 to transfer. The 5 Year Access ISA pays 2.75% (gross/ AER), and offers 25% penalty free access and also accepts transfers in from previous years. These tax free products have a minimum investment of only £1.
The Society's new 5-Year Bond, with a market leading headline rate of 3.00%, is complimented by an additional market leading 5 year version available with 25% access at 2.75%. Both of these accounts have a minimum investment of only £100 and a maximum investment of £1,000,000 (£2,000,000 for joint accounts).
Kim continued, "Customers can benefit from a tax-free return, on all of their ISA savings, which is higher than the current rate of inflation. Furthermore, they can also achieve a market leading fixed rate of return on their other savings with the UK's 5th largest building society. We know that these products will be popular and I would urge savers to act quickly to take advantage of these four market leading products, as there is a limited tranche available."
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