Leeds Building Society has boosted the interest rate on two of its online savings products to give savers the “best return” from their money.
The Society is now offering an easy access online savings account at 5.1 percent and an online ISA at 4.8 percent – both market-leading deals.
Matt Bartle, director of products at Leeds Building Society, said: “We are pleased to launch new issues of two of our popular easy access online savings products, providing members with access to their money when it’s needed, at extremely competitive rates.”
“These new easy access online savings products will be attractive to those who want to reinvest their savings after recently moving off a fixed-term product, and also those who are looking to get the best return from the money but value the easy access.”
The weekend marked the one-year anniversary of the mini-budget, which spurred many savers to open one-year fixed accounts, which are now coming to the end of their term.
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The new easy access online savings products will be of particular interest to those who are looking to reinvest their savings after moving off a fixed-term product.
Limited Issue Online Access ISA (Issue 65) – 4.8 percent
Boasting a variable rate AER 4.8 percent, this account can be opened and operated online only with a minimum balance of £1,000.
The term is fixed until November 30, 2025 and interest is paid annually and on maturity. Interest can be added to the account, transferred, or paid to another Leeds Building Society account.
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Offering flexible terms, the account can accept contributions from previous tax year ISAs, allows ongoing deposits, and is open to transfers from other Stocks and Shares ISAs.
Unlimited withdrawals can be made without notice or loss of interest. However, it should be noted the account may be closed for further deposits upon a minimum of 30 days written notice.
Limited Issue Online Access Account (Issue 50):
The Limited Issue Online Access Account offers a wariable rate AER 5.1 percent and interest is paid on maturity (December 1, 2024).
The account can only be opened and operated online with a minimum balance of £1,000. Up to £1million can be invested overall – and £2million for joint accounts.
Interest can also be added to the account, transferred, or paid to another Leeds Building Society account.
Unlimited withdrawals can be made without notice or loss of interest and similar to the ISA, the account may also close early for further deposits, but 30 days written notice will be given.
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