E-ISA (Issue 5)Rates correct as at 1 AUG 2019
Our E-ISA is a simple online ISA account. It has all the benefits of an ISA, but can only be opened and operated online. So if you prefer doing things online, its even easier to keep track of your savings.
You can open the account with as little as £1 and can make unlimited withdrawals to your Nominated Accounts (as defined in the General Conditions) without losing interest - just make sure you keep the balance above £1.
0.60% Tax-free§ p.a./AER† (variable)
|Account Name||E-ISA (Issue 5)|
|What is the interest rate?||Annual Interest 0.60% 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 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 £1000 deposit?||Assuming that £1,000 is deposited into the account on 1 November and no further deposits or withdrawals are made, then based on an interest rate of 0.60% you will receive a £6.00 interest payment after 12 months, giving an overall account balance of £1,006.00.
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 only be opened and operated via our website.
Minimum operating balance: £1.
Deposit up to £20,000 in the 2019/2020 tax year (less any amount you have already subscribed to a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA in the same tax year).
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.
Cash/cheque deposits are not permitted (except for your initial deposit, which may be made by cheque).
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 to your Nominated Accounts (as defined in the General Conditions) without notice or loss of interest, subject to the minimum 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.
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||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 16 July 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)