Piggy Bank

Savings & Investments

i-Save

The savings account for 18-29 year olds

As well as giving 18-29 year olds the flexibility of saving anything from £10 to £1,000,000, our i-Save account offers a fantastic rewards package

Summary Box
Key Product Information for our Savings Account(s)
Account Name i-Save
Interest Rates (AERs) See the "How much interest will I earn?" table below.
Tax Status The gross rate(s) of interest shown will be payable net of the appropriate rate of income tax (which may be reclaimed by non-taxpayers) or, subject to the required certification, gross.
Conditions for bonus payment Customers aged 18 and over who transfer their existing Society YoungSaver account will qualify for Loyalty i-Save which adds an additional 0.25% to the rate quoted below.
Withdrawal arrangements Withdrawals can be made at anytime, without notice or loss of interest, subject to the minimum balance of £10 being maintained. If the account falls below £10 at any time, the account will be closed. The account can be closed at anytime without notice or loss of interest.
Access Account can be opened and operated through any of our branches or by post.

How much interest will I earn?

Investment Annual Interest
% Gross§ p.a./AER† (Variable)
£10+ 1.25*

Interest rates effective from 22 October 2009

*Customers aged 18 and over who transfer their existing Society YoungSaver/The Vault account will qualify for Loyalty i-Save which adds an additional 0.25% to the rate quoted above.

Other Product Features:

Minimum and maximum investment and operating balance:

The minimum investment is £10 and the maximum investment is £1,000,000.

When is interest paid?

Interest is paid annually on 1 January.

How is interest paid?

Interest can be either added to the account or transferred either to another building society/bank account or to another account held with the Society.

Eligibility

Must be aged between 18-29 inclusive to open an account. Free savings review at age 30 to help with choice of other suitable accounts.

Rewards

All i-Save account holders receive a fantastic rewards package.

  • 10% off annual travel insurance.
  • When you’ve held your account for six months, we give you £300 cashback on your first Leeds Building Society mortgage.
§ Gross means the rate payable before the deduction of income tax. † AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

Leeds Building Society is a member of the Building Societies' Association. The Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the Scheme are limited to a maximum of £50,000 of an investor's total shares and/or deposits in a society. Most investors are covered, including individuals and small firms. A small number of categories of shares and deposits are not covered, for example deferred shares - permanent interest bearing shares. Although most shares and deposits are denominated in sterling, all other currencies are covered. Further details are available on request from the Society.

The Society is covered by the Financial Ombudsman Service. Leeds Building Society offers some investment products that may be operated through branches and by post and certain products which can be operated by post only. Other taxes or costs may exist that are not paid by Leeds Building Society.

The Society is authorised and regulated by the Financial Services Authority and our FSA registration number is 164992.

© Leeds Building Society