Leeds Building Society launches 5-Year Fixed Rate Escalator ISA

Leeds Building Society has launched a 5-Year Fixed Rate Escalator ISA paying up to 5.00%. Furthermore, the account allows access at any time, without notice or penalty, to up to 25% of the initial amount invested. There are also monthly interest options available for customers who require a guaranteed income.

The Escalator ISA pay a return of 3.00% in the first year, 3.50%, 4.00%, 4.50% and 5.00% in the subsequent years, giving an AER of 4.00%, with the monthly interest version giving an AER of 3.81%.

Karen Wint, General Manager Marketing and Customer Services said, "The ability to lock into a rising guaranteed return in this current climate, with an AER at 1.00% above Bank Base Rate, combined with instant access to 25% of the funds at any time offers good value.

"Customers know exactly what their return will be and have the peace of mind associated with access to funds. There is no doubt that this type of branch based long term fixed rate product is attractive, particularly with many market commentators predicting further cuts in Base Rate into 2009."

For more information, visit leedsbuildingsociety.co.uk