Leeds ISA pays 4.00% above Bank Base

Leeds Building Society's 5-Year Escalator ISA pays up to 5%, which is 4% above Bank Base Rate (BBR) following today's announcement by the Bank of England to reduce BBR to a nominal 1%. The ISA pays a tax-free AER of 4.00% over the period and customers will receive 3.0% in the first year, 3.50%, 4.00%, 4.50% and 5.00% in the subsequent years, with the monthly interest version giving an AER of 3.81%.

Kim Rebecchi, Director of Sales and Marketing said, "However you look at it, this is a fantastic deal. It is very rare that investors can lock in to a rate that is so much higher than Bank Base Rate.

"Furthermore, at a time when many savers have seen their income slashed, there is a monthly income option paying 3.81% AER. Both the annual and monthly income accounts also allow an unlimited number of withdrawals of up to 25% of the initial amount invested, without notice or penalty, providing additional flexibility and peace of mind.

"There is no doubt that this type of product is attractive and I would urge customers to act quickly to avoid disappointment."

For more information, visit leedsbuildingsociety.co.uk