2 Year Fixed Rate ISA (Issue 85)Rates correct as at 11 NOV 2016
If you’re looking for the security of a fixed tax-free interest rate, our 2 Year Fixed Rate ISA (Issue 85) could be for you.
1.15% Tax-free§ p.a./AER† (fixed)
|Account Name||2 Year Fixed Rate ISA (Issue 85)|
|What is the interest rate?||Annual Interest 1.15% Tax free§ p.a./AER† (fixed until 2 January 2019)
If the balance falls below £100, the basic investment rate of interest which is currently 0.05% Tax free§ p.a./AER†(variable) shall apply.
Interest is calculated daily and paid annually on 02 Jan (commencing 02 Jan 2018) and on maturity (02 Jan 2019) .
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?||No – the rate of interest won’t change during the fixed rate period subject to the minimum balance of £100 being maintained. Please see condition 3.1 of the Product Terms and Conditions for further information.|
|What would the estimated balance be after months based on a deposit?||Assuming that £1,000 is deposited into the account at the time it is opened and no further deposits or withdrawals are made then based on an interest rate of 1.15% you will receive £23 interest payment at the end of the fixed term (2 January 2019), giving an overall account balance of £1,023.
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?||This 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: £100.
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?||Withdrawals/transfers are permitted, although they will be subject to 150 days’ loss of interest or an equivalent amount withdrawn/transferred.
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.
The account will mature at midnight on 02 Jan 2019. On the day after maturity (03 Jan 2019), your funds (including interest) will be transferred to an instant access maturity account. Full details including terms and conditions will be provided before maturity.
|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.
This account is limited issue. Once the account is open, you can transfer in previous ISA investments (including 2016/2017 ISA funds deposited with another institution) provided these are not from an Innovative Finance ISA or deposit new 2016/2017 funds up to and including 31 January 2017. After this date the account may be closed for further deposits at any time and without notice.
The above provides a summary of the account only. Please make sure you read the full product terms and conditions so you fully understand how the account operates before you apply.