Access ISA (Issue 2)Rates correct as at 25 NOV 2016
Looking for a straightforward variable rate cash ISA that leaves you in control of your cash? Our Access ISA 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||Access ISA (Issue 2)|
|What is the interest rate?||Annual Interest 0.50% Tax Free§ p.a./AER† (variable)
If the balance falls below £1, the basic investment rate of interest which is currently 0.50% Tax Free§ p.a./AER† (variable) shall apply.
Interest is calculated daily and paid annually on 30 Sep (commencing 30 Sep 2017).
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 General Investment Conditions which provide details as to when and how we can change the interest rate.|
|What would the estimated balance be after months based on a 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 16 and over who are resident in the United Kingdom, or if not so resident, be performing duties as a Crown employee serving overseas and paid out of the public revenue of the United Kingdom (typically a serving member of the armed forces, or a diplomat), or be married to, or in a civil partnership with, such a person.
Open through any of our branches, via our website or by post.
Minimum investment and operating balance: £1.
The maximum you can invest in the 2016/2017 tax year is £15,240 (less any amount invested in a Stocks and Shares ISA and/or an Innovative Finance ISA in the same tax year).
Instructions regarding the operation of the account can be provided in branch, in writing by post or by telephone (although we may request that telephone instructions are also provided in writing).
|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.
You can withdraw up to a maximum of £300 in cash in branch each day. If you require more than this amount (up to a maximum of £1,000) you will need to provide the Society with 48 hours' notice.
|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.
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.