New Tessa ISA’s announced by LBS

New Tessa ISA’s announced by LBS March 7

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Leeds Building Society (LBS) has announced it is to introduce three new Tessa ISA’s.

They are: the one-year Tessa ISA; the two-year Tessa ISA; and, predictably, the three-year Tessa ISA.

The one-year account promises a 5.6 per cent interest rate, the two year a return of 5.7 per cent while the three-year Tessa ISA will earn the bearer 5.85 per cent per annum.

“This new Tessa ISA product range offers a guaranteed high interest rate combined with access to funds,” said Stuart Fearn, product development manager at LBS.

“The minimum investment is also only £1, making it available to all investors with a Tessa ISA balance to transfer. All three versions are straightforward accounts with no short-term headline bonus rates, other catches or requirements to open linked accounts.

“The product accepts transfers in from other providers. Investors, who potentially have Tessa ISA balances of £9,000 plus interest already earned often in accounts earning much less than is now available and without any rate guarantee, would see their earnings increase substantially by transferring to our new product range.”

All three ISA’s are available immediately.

The deadline for ISA’s for the current tax year is April 5th.

Written Exclusively by AdFero for ISA Guides

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