Limited Issue Online Access Account (Issue 7)Rates correct as at 2 FEB 2018
You can open the account with a balance of between £1,000 to £250,000 (£500,000 for joint accounts) and can make unlimited withdrawals to your Nominated Accounts (as defined in the Online Conditions).
1.11% Gross‡ p.a./AER† (variable)
The maximum amount you can deposit is £250,000 (£500,000 for joint accounts) plus accrued interest credited to the account.
|Account Name||Limited Issue Online Access Account (Issue 7)|
|What is the interest rate?||Annual interest 1.11% Gross‡ p.a./AER† (variable)
If the balance falls below £1,000, the rate of interest which shall apply is 0.05% Gross* p.a./AER# (variable).
Interest is calculated daily and paid on maturity (31 March 2019).
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 conditions 13 and 14 of the Online Investment Conditions which provide details as to when and how we can change the interest rate.|
|What would the estimated balance be after 12 months based on a £1,000 deposit?||Assuming that £1,000 is deposited into the account on 1 April 2018 and no further deposits or withdrawals are made, then based on an interest rate of 1.11% you will receive an £11.10 interest payment after 12 months, giving an overall account balance of £1,011.10.
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 are resident in the UK. The account cannot be opened by corporate bodies, trustees, executors, nominees, charities or minors.
Cash/cheque deposits are not permitted (except for your initial deposit, which may be made by cheque).
The account can be opened online via our website.
Minimum operating balance: £1,000.
Maximum balance: £250,000 (£500,000, for joint accounts) plus accrued interest credited to the account.
The account can only be operated online through our website.
|Can I withdraw money?||Unlimited withdrawals can be made to your Nominated Accounts (as defined in the Online Investment Conditions) without notice or loss of interest, subject to the minimum balance of £1,000 being maintained.
Cash/cheque withdrawals are not permitted. You will not be able to withdraw money from your account for a period of 30 days from the date it’s opened. If you need money urgently please call our customer helpline on 03450 50 50 75.
When money is paid into your account, provided the payment is received by us between 7am and 7pm, you will be able to withdraw the funds that day.
Withdrawals to your Nominated Accounts made before 8pm on a working day will be made available to the payee the next working day.
|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.
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.
Information correct as at 2 February 2018.
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.