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Leeds increases rates on 5-Year Fixed Rate Bonds and ISAs

19th September 2013 Print

Leeds Building Society has increased the rates on its market leading 5-Year Fixed Rate Bonds and ISAs by up to 0.15%.

The Society is now paying an increased rate of 3.05% on both of its locked-in products, complimented by versions of these products at 2.90%, for those customers who require the peace of mind of access to some of their funds without notice or penalty.
Kim Rebecchi, Leeds Building Society Sales & Marketing Director commented, "We had a great response to the first issues of these products, and are delighted to now increase the rate to further assist those savers looking for value, security and a return that is higher than the current rate of inflation (currently 2.7%). The rate on our market leading 5 year Bond and ISA has increased from 3.00% to 3.05%, with the rate for those customers who like the flexibility and peace of mind provided by penalty free access to 25% of their funds at any time, increasing from 2.75% to 2.90%."
The new market leading 5-Year ISA paying 3.05% is available for both the 2013/2014 tax-year subscription of £5,760 and allows transfers 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 2.90% (gross/ AER), offers 25% penalty free access, accepts transfers in from previous years and is a market leading deal with access. These tax free offers have a minimum investment of only £1.
The Society's new 5-Year Bond, with a market leading headline rate of 3.05%, is complimented by an additional market leading 5 year version available with 25% access at 2.90%. 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, "Whilst the traditional ISA season is in March and April each year, around the tax-year end, our research showed us that circa £8.5bn* 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.
"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. The first issues of these products proved very popular, so I would urge customers to act quickly to take advantage of these increased market leading savings rates. They are available now in branch, by post and online."
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