Best buy ISA pays eight times Bank Base Rate

Leeds Building Society has launched a market leading 5 Year Fixed Rate ISA paying 4.00% interest tax free, which is eight times more than the Bank of England base rate following the decision to leave the rate unchanged at 0.50% last week.

Furthermore, unlike many offers on the market, this product allows savers to transfer in all of their ISA subscriptions from previous years' plus any interest accrued. There is also unlimited access to 25% of the amount invested at any time, without notice or penalty, and a minimum opening balance of only £1.

Kim Rebecchi, Director of Sales and Marketing said, "The opportunity to earn up to eight times the Bank of England base rate, from as little as £1, is a market leading offer and provides outstanding value in this current low interest rate environment.

"Some ISA customers, who have invested the maximum possible, could have £43,200 invested in an ISA plus accrued interest and the opportunity to transfer balances of this size and earn eight times Bank of England base rate is a great deal.

"Furthermore, our new 5 Year fixed Rate ISA at 4.00% delivers flexibility and peace of mind with unlimited withdrawals of up to 25% of the capital allowed at any time, without notice or penalty. Leeds Building Society already had the best buy 5 Year Fixed Rate ISA at 3.50%, and increasing the rate by 0.50% has further improved our market leading position.

"There is no doubt that investors should review their existing savings and consider transferring their ISAs to ensure they are maximising their tax free return in this changing financial climate."

For more information, visit leedsbuildingsociety.co.uk