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Smart Saver

Rates correct as at 12 SEP 2019

Get the rate you'll love and access you need.
If you’d like to watch your money grow and enjoy access to your savings, take a look at our Smart Saver account…

  • Save any amount between £5,000 and £250,000
  • Earn as much as 1.10% Gross p.a./AER (variable) depending on your balance
  • Access your savings up to five times a year
  • Open your account online, in-branch or by post, whichever’s best for you.

For balances between £5,000 and £24,999.99:


0.90% Gross p.a./AER(variable)

For balances between £25,000 and £49,999.99:


1.00% Gross p.a./AER(variable)

For balances between £50,000 and £250,000:


1.10% Gross p.a./AER(variable)

The maximum balance is £250,000 (joint accounts also) including accrued interest. If the balance exceeds £250,000 the interest rate that shall apply to the whole balance will be 0.50% Grossp.a/AER (variable).

Account NameSmart Saver
What is the interest rate?Annual Interest

For balances between £5,000 and £24,999.99:
0.90% Gross p.a./AER variable.

For balances between £25,000 and £49,999.99:
1.00% Gross p.a./AER variable.

For balances between £50,000 and £250,000:
1.10% Gross p.a./AER variable.

The maximum amount you can invest is £250,000 (the same limit applies to joint accounts) including accrued interest. If the balance exceeds £250,000 the interest rate that shall apply to the whole balance will be 0.50% Grossp.a/AER variable.

If the balance falls below £5,000, the rate of interest which shall apply is 0.05% Gross p.a./AER variable.

Interest is calculated daily and paid annually on 30 September.

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?The interest rate on this account 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 £5,000, £25,000, £50,000 and £250,000.01 deposit?If £5,000 is deposited into the account on 1 October and no further deposits or withdrawals are made, then based on an interest rate of 0.90% you will receive a £45.00 interest payment after 12 months, giving an overall account balance of £5,045.

If £25,000 is deposited into the account on 1 October and no further deposits or withdrawals are made, then based on an interest rate of 1.00% you will receive a £250.00 interest payment after 12 months, giving an overall balance of £25,250.

If £50,000 is deposited into the account on 1 October and no further deposits or withdrawals are made, then based on an interest rate of 1.10% you will receive a £550.00 interest payment after 12 months, giving an overall balance of £50,550.

If £250,000.01 is deposited into the account on 1 October and no further deposits or withdrawals are made then based on a rate of 0.50% you will receive a £1,250.00 interest payment after 12 months, giving an overall balance of £251,250.01.

These projections are 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 18 or over who are resident in the UK.

The account cannot be opened by corporate bodies, trustees, executors, nominees or charities.

This account is limited to one per customer, including joint accounts.

How to open the account:
The account can be opened through any of our branches, via our website www.leedsbuildingsociety.co.uk or by post.

If you currently have an existing Leeds Building Society account it may be possible to transfer your funds, subject to your existing product terms and conditions and the product terms and conditions of this account. Please check with us to see whether this is possible.

Operating the account:
Minimum operating balance: £5,000. The minimum operating balance is required to open the account.

Maximum balance: £250,000, £250,000 for joint accounts, plus accrued interest credited to the account.

The account can be operated in branch or by post. You will also be able to carry out some operations by telephone and online, where you have registered for online services.

Where the account is operated by post, the Society will aim to deal with all transactions within two working days of receipt of a request. However, the Society cannot be held responsible for delays due to unforeseen circumstances and postal delays.
Can I withdraw money?Access is limited to 5 withdrawals per calendar year (including account closure) without notice or loss of interest, subject to the minimum balance of £5,000 being maintained.

Further withdrawals (including account closure) will be subject to 30 days’ loss of interest on an equivalent amount to that withdrawn. This means that you might get back less than you originally deposited.

If the balance falls below £5,000 the rate of interest which shall apply is 0.05% Grossp.a/AER variable.

You can make withdrawals from your account by: o cash (up to a maximum of £300 in cash in branch each day), you will need to provide 48 hours’ notice if you required more than this amount (up to a maximum of £1,000);

• cheque;
• internal transfer to another Society account; or
• electronic payment (as defined in the General Conditions).
Additional InformationAccount closure:
You can close your account at any time and without loss of interest provided you haven’t exceeded the maximum number of withdrawals, as confirmed above.

If the maximum number of permitted withdrawals has been exceeded then you can still close the account at any time but this will be subject to 30 days loss of interest on an amount equivalent to that withdrawn/transferred. This means that you might get back less than you originally deposited.

Interest will be paid immediately up to the date of account closure.

Deposits:
The account may be closed for further deposits at any time. This will be done on a minimum of 30 days’ written notice, after which you will not be able to deposit further funds.

Tax treatment:
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.
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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)

Before you apply, please make sure you read the Summary Box, Product Terms and Conditions and General Conditions in full.Apply in BranchApply by PostApply Online

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.