Gibraltar/Offshore Access Saver (Issue 2)Rates correct as at 26 AUG 2016
A simple, savings account that helps you save for the things you want.
Our Access Saver gives you the flexibility of saving anything from £100 to £1,000,000 (£2,000,000 for joint accounts).
|Account Name||Gibraltar/Offshore Access Saver (Issue 2)|
|What is the interest rate?||Annual Interest
0.50% Gross‡ p.a./AER† (variable)
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 annually on 30 Sep. Interest can be credited to the account or transferred to another building society/bank account or to another account held with the Society.
|Can Leeds Building Society change the interest rate?||Yes. Please see condition 8 of the General Investment Conditions (Gibraltar/Offshore) which provides details as to when and how we can change the interest rate.|
|What would the estimated balance be after 12 months based on a £1000 deposit?||Assuming that £1,000 is deposited into the account on 1st October and no further
deposits or withdrawals are made, then based on an interest rate of 0.50% you will receive a £5.00 interest payment after 12 months, giving an overall account balance of £1,005.
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?||Unlimited withdrawals can be made without notice or loss of interest, subject to the minimum operating balance of £100 being maintained.|
|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 may be closed to further deposits upon a minimum of 30 days’ written notice.
The above provides a summary of the account. Please make sure you read the full product terms and conditions so you fully understand.