Gibraltar/Offshore 2 year Fixed Rate Bond (Issue 217)Rates correct as at 13 DEC 2018
Looking for a straightforward investment with the security of a fixed rate? The 2 Year Fixed Rate Bond (Issue 217) from Leeds Building Society could be just what you need!.
|Account Name||Gibraltar/Offshore 2 year Fixed Rate Bond (Issue 217)|
|What is the interest rate?||Annual Interest
0.85% Gross‡ p.a./AER† fixed until 28 February 2021.
If the balance falls below £100, the rate of interest that shall apply is currently 0.05% Gross‡ p.a./AER† (variable).
Interest is calculated daily and paid annually on 28 February (commencing 28 February 2020) and on maturity (28 February 2021).
Interest can be credited to the account or transferred to another UK or Gibraltar building society/bank account or to another account held with the Society.
|Can Leeds Building Society change the interest rate?||No – the rate of interest won’t change during the fixed rate period subject to the minimum balance of £100 being maintained.|
|What would the estimated balance be after 24 months based on a £1000 deposit?||Assuming that £1,000 is deposited into the account at the time it is opened and no further deposits or withdrawals are made then based on an interest rate of 0.85% you will receive an interest payment of £17.07 at the end of the fixed term (28 February 2021), giving an overall account balance of £1,017.07
This projection is provided for illustrative purposes only and will depend on the individual circumstances of each customer.
|How do I open and manage my account?||The account is available to individuals aged 18 or over who:
Minimum balance: £100.
Maximum balance: £1,000,000 (£2,000,000 for joint accounts) plus accrued interest credited to the account.
You can operate the account through the Gibraltar branch or by post through the Gibraltar branch.
|Can I withdraw money?||No withdrawals are permitted until the day after maturity (01 March 2021).
The account will mature at midnight on 28 February 2021. On the day after maturity (01 March 2021), your funds (including interest) will be transferred to an instant access maturity account. Full details including terms and conditions will be provided before maturity.
|Additional Information||Interest is paid gross, without the deduction of income tax. Payment of gross interest does not mean that interest you receive is exempt from tax. The tax treatment depends on the individual circumstances of each customer and may be subject to change in the future. It is your responsibility to seek independent tax advice.
Cash transactions are not permitted.
The account is limited issue. Once the account is open, you can make deposits up to and including 28 February 2019. After this date the account may be closed for further deposits at any time and without notice.
Information correct as at 13 December 2018.
The above provides a summary of the account only. Please make sure you read the full product terms and conditions so you fully understand how the account operates before you apply.