Leeds Building Society as a new base rate tracker ISA with guaranteed interest rate of Bank of England Base Rate plus 2% for 2 years.
This new base rate tracker ISA will have an initial interest rate of 2.5%.
As Kim Rebecchi, Leeds Building Society’s Sales and Marketing Director said though, “The financial markets are expecting the bank rate to increase by 0.75% to 1.25% by the end of the year, and the Confederation of British Industry (CBI) also expects base rate to hit 1.25% by the end of this year.
With base rate expected to rise, the rate guarantee for the full term offers comfort to investors.”
The minimum balance on this ISA account is £1 and there is the option for customers who have already subscribed to an ISA in the current tax year to transfer into these fund in full.
This transfer of funds also applies to all previous years ISA subscriptions from other providers.
Access only permitted on closure/ transfer subject to 120 days loss of interest and additional investments can be made, whilst the issue remains available for new investments.
The savings account can be opened online, by post or at a Leeds branch.