Leeds Building Society has launched an 18-month fixed rate cash Isa paying a 1.65 per cent tax-free per annum annual equivalent rate.
The lender stated that the term length makes it unique in the cash Isa market.
Kim Rebecchi, distribution and marketing director at LBS, stated that it offers savers more choice about how long they want to lock in their investment and can be opened with as little as £100.
“Transfers in of Isa subscriptions from previous years are permitted and, as with our other fixed rate cash Isas, savers can enjoy penalty-free access of up to 25 per cent of their initial investment.”
Last July the Isa personal allowance was increased to £15,000 for the current financial year, with the building society taking the opportunity to launch a range of fixed-rate cash Isas, as well as a new Isa Builder.
peter.walker@ft.com
