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Savings & Investments
1 Year Fixed Rate ISA (Issue 13)
If you’re looking for the security of a fixed tax free interest rate, our 1 Year Fixed Rate ISA (Issue 13) could be for you.
The Financial Services Authority is the independent financial services regulator. It requires us,
Leeds Building Society, to give you this important information to help you to decide whether our 1 Year Fixed Rate
ISA (Issue 13) is right for you. You should read this document carefully so that you understand what you are buying, then
keep it safe for future reference.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | 1 Year Fixed Rate ISA (Issue 13) |
| Interest Rates (AERs) | 2.25% Tax-free§ p.a./AER† (fixed). |
| Tax Status | This is a tax-free account so interest payable is exempt from income tax. |
| Conditions for bonus payment | There is no bonus available on this account. |
| Withdrawal arrangements | Withdrawals/transfers can be made up to 25% of your capital investment without notice or loss of interest prior to maturity (30 September 2011). If you exceed this limit, the account will be subject to 90 days loss of interest or an equivalent amount on the amount withdrawn/ transferred. Partial transfers are not permitted on current years' subscriptions in accordance with the ISA Regulations. If you wish to transfer before 6 April 2011, you must transfer all your investment and 75% of your investment will be subject to 90 days loss of interest and your account will be closed. |
| Access | Account can be opened through any of our branches, via our website or by post, and can be operated through any of our branches or by post. |
Rates correct as at 1 September 2010
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £1. The maximum investment and operating balance is £5,100 in the 2010/11 tax year (plus previous years' subscriptions whether held with the Society or another ISA provider).
When is interest paid?
Interest is paid annually on 5 April (commencing 5 April 2011) and on maturity (30 September 2011).
How is interest paid?
Annual interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society. Where annual interest is credited to the account then all interest earned can be withdrawn between 6 and 30 April each year without notice or loss of interest.
What happens to my investment at maturity?
The 1 Year Fixed Rate ISA (Issue 13) will mature on 30 September 2011. At the end of the fixed term, subject to Government legislation, your account will remain an ISA. On the day after maturity (1 October 2011), the Society will transfer your investment (including interest) to a maturity ISA product. Full details, including terms and conditions, will be provided before maturity.
Transfers in
To transfer all or part of your existing ISA from another ISA provider, simply complete the ISA Transfer Request Form and the Cash ISA Application Form (if required) and we'll do the rest. Please note HM Revenue & Customs guidelines state that the ISA provider has up to 30 days to complete the transfer.
Transfers out
Transfers can be made up to 25% of your capital investment to another ISA providor before maturity (30 September 2011) without notice or loss of interest. If you exceed this limit, the account will be subject to 90 days loss of interest or an equivalent amount on the amount transferred. Partial transfers are not permitted on current years' subscriptions in accordance with the the ISA regulations. If you wish to transfer before 6 April 2011, you must transfer all your investment and 75% of your investment will be subject to 90 days loss of interest and your account will be closed.
