Limited Issue Online Access Account (Issue 2)Rates correct as at 19 APR 2017
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).
1.05% Gross‡ p.a./AER† (variable)
The maximum amount you can invest is £250,000 (£500,000 for joint accounts).
|Account Name||Limited Issue Online Access Account (Issue 2)|
|What is the interest rate?||Maturity interest
1.05% Gross‡ p.a./AER† (variable)
If the balance falls below £1,000 the basic savings rate of interest, which is currently 0.05% Gross‡ p.a./AER† (variable), shall apply. Interest is calculated daily and paid on maturity (31 May 2018). 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?||If £1,000 is deposited into the account at the time it is opened and no further deposits or withdrawals are made then based on a rate of 1.05% you will receive an interest payment of £10.50 after 12 months, giving an overall balance of £1,010.50.
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.
Cash/cheque deposits are not permitted (except for your initial deposit, which may be made by cheque).
Minimum investment and operating balance: £1,000.
Maximum investment: £250,000 (£500,000, for joint accounts).
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.
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.
The Limited Issue Online Access Account (Issue 2) will mature at midnight on 31 May 2018. On the day after maturity (1 June 2018), the Society will transfer your savings (including interest) to an instant access maturity account. Full details including terms and conditions will be provided before maturity.
|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.
The account may be closed to further deposits upon a minimum of 30 days’ written notice.
Please note that even though our accounts can be opened online, not all of our products can be operated online. The details above only provide a summary of the account. Please check the Product Terms and Conditions (PDF) for full details.
Please note that the Leeds Building Society online savings service will be unavailable each day for 1 hour between 12 midnight and 1am, while our systems update.