Six Access ISA
An Individual Savings Account gives you tax-free interest on your savings. This one also lets you top up and make limited withdrawals along the way.
Interest rate:
4.10%
Tax free§ p.a./AER† variable
The maximum balance is £1,000,000 plus accrued interest.
This might be right for you if...
- You don't need to dip into your savings often
- You want to transfer funds from other ISAs
- You'd like to top up your savings as you go
- You have at least £1,000 to deposit
- You'd prefer to run the account in-branch or by post
Some things to bear in mind...
- Interest rates can go down as well as up
- Withdrawals are limited to 6 each year without loss of interest (including account closure)
- Up to £20,000 can be paid in this tax year with unlimited transfers from previous years' ISAs
- You can't open this account online
Summary Box
Account Name: Six Access ISA
What is the interest rate?
Annual Interest4.10% Tax free§ p.a./AER† variable
• If the balance falls below £1,000, the rate of interest will be 0.05% Tax free§ p.a./AER† variable.
• Interest is calculated daily and paid annually on 28 February.
• Interest can be credited to the account or transferred to another building society/bank account or to another account that you have with us.
§Tax free means that interest payable is exempt from income tax.
†AER stands for Annual Equivalent Rate and this is what the interest rate would be if interest was paid and added each year.
Can Leeds Building Society change the interest rate?
The interest rate on this account is variable. This means that we can change the interest rate. For further information on how we can change the interest rate and how much notice we need to provide you with, please see our General Conditions, condition 14 ‘Our right to change interest rates’ and condition 15 ‘Letting you know about changes to interest rates’.What would the estimated balance be after 12 months based on a £1,000 deposit?
If you deposit £1,000 in your accounts at the time it is opened and it earns an interest rate of 4.10%, after 12 months you will receive an interest payment of £41. The total estimated balance in your account will be £1,041. This assumes that:• You don’t make any further deposits,
• You don’t make any withdrawals and,
• The interest is paid annually and added to the account.
This projection is only an illustration and will depend on your individual circumstances.
How do I open and manage my account?
Eligibility:• This account is available to individuals aged 18 or over. You will also be eligible for this account if you have an existing Cash ISA account with Leeds Building Society and you are aged 16 or 17 as at 6 April 2024. You must be a UK resident for tax purposes, or if not, you must 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 someone who is.
• The account can only be held in your name, joint accounts are not allowed.
• This account is limited to one per customer.
• You may only subscribe to one Cash ISA in a single tax year with Leeds Building Society. In any such year, and if you are aged 18 or over, other providers may also allow you to invest in a Cash ISA, Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA, subject to the overall ISA limits.
• By opening a Cash ISA you will be limiting the amount you can invest in a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA.
• A Cash ISA cannot be opened by a person other than the account holder except where someone is unable to complete an application form due to physical or mental incapacity and the Society is provided with documentation as required. The account must be in the name of the person incapacitated.
• ISA investments will be, and must remain in, the beneficial ownership of the account holder and must not be used as security for a loan.
Account opening:
• The account can be opened through one of our branches 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: £1,000. The minimum operating balance is required to open the account.
• The maximum you can invest in the 2024/2025 tax year is £20,000 (less any amount invested in a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA in the same tax year). You must not exceed the ISA limits in any one tax year.
• The maximum you can deposit is: £20,000.
• You can transfer in some or all of your previous tax years savings without affecting your annual allowance for the current tax year, as long as the terms and conditions of your existing account allow and the maximum balance of £1,000,000 (including previous year ISA funds plus accrued interest credited to the account) is maintained.
• 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 receiving a request. We can’t be held responsible for delays due to unforeseen circumstances and postal delays.
• Where you have not invested your full ISA allowance for the 2024/2025 tax year and the account has closed for further deposits, you will only be able to utilise your full ISA allowance by transferring your Cash ISA to another Leeds Building Society Cash ISA or to another ISA provider, in which case you may incur a loss of interest. Please see ‘Can I withdraw money?’ below for further details.
• Details on how to transfer existing funds deposited in a Cash or Stocks and Shares ISA with another provider to Leeds Building Society and details on how to transfer a Leeds Building Society Cash ISA to another provider can be found below this summary box.
• Deposits in future tax years may be made up to the applicable ISA limit provided that the account has not been closed to further deposits.
Can I withdraw money?
Withdrawals:• Access is limited to 6 withdrawals each calendar year. This includes closure without notice or loss of interest as long as the minimum operating balance of £1,000 is maintained.
• If you make any further withdrawals including account closure, there will be 30 days’ loss of interest on an equivalent amount to that withdrawn from your account. This means that you might get back less than you originally deposited.
• If the balance falls below £1,000, the rate of interest will be 0.05% Tax free§ p.a./AER† variable.
• This is not a flexible ISA meaning any amount withdrawn cannot be replaced and will count towards your yearly ISA limit.
• All withdrawals will result in a loss of tax free status on the amount withdrawn.
• You can make withdrawals from your account by:
o cash, up to a maximum of £300 in branch each day. You will need to provide 48 hours’ notice, if you require more than this amount, up to a maximum of £1,000;
o cheque; or
o electronic payment as defined in the Definitions section in our General Conditions.
Additional Information
Account closure:You can close your account at any time and without loss of interest as long as you haven’t exceeded the maximum number of withdrawals.
If the maximum number of withdrawals allowed has been exceeded, you can still close the account at any time but there will be 30 days loss of interest on an equivalent amount 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 that your account is closed.
Deposits:
The account may be closed for further deposits at any time. We will give you a minimum of 30 days’ notice in writing and after this you will not be able to deposit any further funds.
Tax treatment:
• 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 change in the future.
• The amounts you can invest are set by HM Revenue & Customs (HMRC) and therefore may change.
• The tax treatment of ISAs may change.
Death of an account holder:
In the event of your death, your ISA will be designated as a ‘continuing account of a deceased investor’ until the earliest of: (i) the administration of your estate is completed; (ii) the ISA is closed; or (iii) three years have passed since the date of your death. No further deposits will be allowed into the ISA but your account will continue to receive the tax free benefits.
Keeping you and your information safe
- We share the information you provide with fraud prevention agencies
- They use this information to guard against fraud, money laundering and identity theft
- If any of these are detected, it may prevent you from applying for selected accounts
- You can find out more about your data protection rights in our Guide to use of your personal data (PDF)
Continuing with your application lets us know we're okay to use your information this way.
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Protecting your money
Under the Financial Services Compensation Scheme (FSCS), the first £85,000 of your savings is protected.
Find out more