Step-up with Leeds

Leeds Building Society has launched a 5-year fixed rate ISA paying an escalating return up to 6.50% gross pa in year 5, with unlimited access to up to 50% of the initial amount invested at any time, without notice or penalty. Otherwise a 90-day penalty will apply.

The account pays a tax free return of 5.55% in the first year (to June 30th 2009), 5.75%, 6.00%, 6.25% and 6.50% in the subsequent years, giving an AER of 6.00%. There is also a monthly interest version with an AER of 5.90% for customers who require an income.

Minimum opening balance is £1. Transfers of previous years' cash ISA subscriptions plus any interest earned are allowed.

15 July 2008 © Moneyextra.com

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