Leeds launches new 5-year ISA

The Society is adding to its range of tax-free savings with the new ISA, for savers to benefit from a more competitive return if they are able to lock away their cash for the longer term.

All Leeds Building Society Fixed Rate Cash ISAs can be opened with as little as £100.

Up to this year’s tax-free allowance of £15,000 can be deposited in the new Five Year Fixed Rate Cash ISA. Transfers in of previous years’ ISA subscriptions are also permitted.

Kim Rebecchi, Leeds Building Society’s Distribution and Marketing Director, said:

“This new Five Year Fixed Rate Cash ISA adds to the choice for savers looking for tax-free returns, if they’re able to put away their money for the longer term.

“In addition to the competitive rate, this product has the attraction of access to 25% of the capital investment without penalty during the term.

“We would encourage all savers to have an ISA, to ensure your nest egg works a little bit harder, and make the most of your annual Cash ISA allowance, which rose this summer to £15,000 per adult.”