Gibraltar/Offshore 1 year Fixed Rate Bond (Issue 197)Rates correct as at 23 MAY 2017
Looking for a straightforward investment with the security of a fixed rate? The 1 Year Fixed Rate Bond (Issue 197) from Leeds Building Society could be just what you need!
|Account Name||Gibraltar/Offshore 1 year Fixed Rate Bond (Issue 197)|
|What is the interest rate?||Maturity Interest
0.75% Gross‡ p.a./AER† fixed until 01 July 2018.
If the balance falls below £100, the basic investment rate of interest which is currently 0.05% Gross‡ p.a./AER† (variable) shall apply.
Interest is calculated daily and paid on maturity (01 July 2018). 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. Please see condition 3.1 of the Product Terms and Conditions below for further information.|
|What would the estimated balance be after 12 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 0.75% you will receive a £7.50 interest payment at the end of the fixed term (01 July 2018), giving an overall account balance of £1,007.50.
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:
hold a UK or Gibraltar passport and are resident in Gibraltar; or
hold a UK passport and are resident in Spain.
The account can be opened through the Society’s Gibraltar branch or by post.
Cash transactions are not permitted.
Minimum investment and operating balance: £100.
Maximum investment: £1,000,000 (£2,000,000 for joint accounts) plus accrued interest credited to the account.
Instructions regarding the operation of the account can be provided in the Gibraltar branch or by post through the Gibraltar branch.
|Can I withdraw money?||No withdrawals are permitted until the day after maturity (02 July 2018).
The account will mature at midnight on 01 July 2018. On the day after maturity (02 July 2018), 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.
The account is limited issue. Once the account is open, you can make deposits up to and including 30 June 2017. After this date the account may be closed for further deposits at any time and without notice.
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.