ISA Saver (Issue 2)Rates correct as at 1 AUG 2019
Looking for a straightforward variable rate cash ISA that leaves you in control of your cash? Our ISA Saver may be the answer.
The account offers all the benefits of a simple tax-free savings account - including the flexibility to make lump sum deposits or save regularly - and you can open your cash ISA with as little as £1. The account gives you immediate access to your money, without notice or loss of interest, whenever you need it.
0.50% Tax-free§ p.a./AER† (variable)
|Account Name||ISA Saver (Issue 2)|
|What is the interest rate?||Annual Interest 0.50% Tax Free§ p.a./AER† (variable)
If the balance falls below £1, the rate of interest which shall apply is 0.05% Tax Free§ p.a./AER† (variable).
Interest is calculated daily and paid annually on 31 October.
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, the interest rate is variable. This means that we have the ability to change the interest rate. Please see conditions 14 and 15 of the General Conditions for further details of the circumstances in which we can do this and the notice we will provide.|
|What would the estimated balance be after 12 months based on a £1000 deposit?||Assuming that £1,000 is deposited into the account on 01 November and no further deposits or withdrawals are made, then based on an interest rate of 0.50% you will receive a £5 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?||Eligibility
The account is available to individuals aged 16 or over. You must be a UK resident for tax purposes or be performing duties as a Crown employee, or be married to, or in a civil partnership with, such a person.
The account can only be held in your name.
You may only subscribe to one Cash ISA in a single tax year (although in any such year you may also invest in a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA, subject to the overall ISA limits).
By opening a Cash ISA you will also be limiting the amount you can invest in a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA.
Account opening and operation
The account can be opened through any of our branches, via our website (www.leedsbuildingsociety.co.uk) or by post. You will also be able to carry out some operations by telephone and online, where you have registered for online services.
Minimum operating balance: £1.
Deposit up to £20,000 in the 2019/2020 tax year (less any amount you have already subscribed in a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA in the same tax year).
You can transfer in some or all of your previous tax years savings without affecting your annual allowance for the current tax year, subject to the terms and conditions of your existing account.
This account may be closed to further deposits upon a minimum of 30 days' written notice after which you will not be able to deposit further funds.
Where you have not invested your full ISA allowance for the 2019/2020 tax year and the account has closed for further deposits, you will only be able to utilise this by investing in another type of ISA or transferring your Cash ISA to another Leeds Building Society Cash ISA or to another ISA manager, in which case you may incur a loss of interest.
|Can I withdraw money?||Unlimited withdrawals can be made without notice or loss of interest, subject to the minimum operating balance of £1 being maintained.
This is not a flexible ISA meaning any amount withdrawn cannot be replaced and will count towards your yearly ISA limit.
All withdrawals will result in a loss of tax free status on the amount withdrawn.
You can make withdrawals from your account by:
• cash (up to a maximum of £300 in cash in branch each day). You will need to provide 48 hours’ notice, if you require more than this amount (up to a maximum of £1,000);
• cheque; or
• Electronic Payment (as defined in the General Conditions).
|Additional Information||This is a Cash ISA. Interest payable is exempt from income tax. The tax treatment depends on the individual circumstances of each customer and may be subject to change in the future.
The amounts you can invest are set by HM Revenue & Customs (HMRC) and therefore may change.
Information correct as at 01 August 2019.
The Summary Box sets out only the key information, for full details please read our
Your savings are also protected by the FSCS. For details please read our FSCS Information Sheet (PDF)
Alternate ways to apply
Visit your local branch and our friendly staff will help you to open your account.
Download your savings application pack to apply by post.