Secure Online Services
Savings & Investments
Online ISA
Watch your savings grow over the Internet with our online individual savings account.
Online ISA is a simple tax-free savings account, ideal if you want the flexibility to make lump sum deposits or save regularly and still have immediate access to your money.
Of course, with the Online ISA being an Internet-based account, you can access your account at anytime¹ allowing you to check your balance, transfer money and view your statement.
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 Online
ISA is right for you. You should read this document carefully so that you understand what you are buying,
and then keep it safe for future reference.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | Online ISA |
| Interest Rates (AERs) | See the "How much interest will I earn?" table below. |
| 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 can be made at any time 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 any time without notice or loss of interest. |
| Access | Account can only be opened and operated online only. |
How much interest will I earn?
| Investment | Annual Interest % Tax-free§ p.a./AER† (Variable) |
|---|---|
| £10+ | 1.30 |
Interest rates effective from 22 October 2009
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £10 and the maximum investment 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.
How is interest paid?
Interest is credited to the account.
Transfers in
To transfer your existing ISA from another ISA provider, simply complete the ISA transfer application form and we'll do the rest.**.
Transfers out
If, before maturity the Online ISA or part of it, is transferred to another ISA manager, the account will be subject to 90 days loss of interest or an equivalent amount on the amount transferred.
Benefits of our ISAs
You can open your Leeds Building Society Online ISA with as little as £10 and add to it at any time, up to a maximum of £5,100 in the 2010/11 tax year. In subsequent years, you can invest up to the maximum subscription limit for that tax year (provided the product remains an open issue). The maximum limits are for subscriptions to an ISA only and are not affected by withdrawals.
You can make withdrawals without notice or loss of interest and your interest will continue to be paid tax-free.
Remember, if you make a withdrawal and have already subscribed the maximum amount in a particular tax year, you won’t be able to make any additional subscriptions in that tax year, as illustrated below:
| If you subscribe: | £2,000 | |
| Then withdraw: | £500 | |
| Your remaining limit is: | £3,100 | |
| Total subscription limit: | £5,100 |
What if I change my mind?
From the date of account opening, you have 14 days to notify us (in writing) if you are not happy with your choice of account. Please write to
Investment Services,
Leeds Building Society,
105 Albion Street,
Leeds
LS1 5AS.
Within that period we will, if instructed by you, refund your investment with interest from account opening, or subject to eligibility, transfer the investment to another account of your choice without any penalty for early withdrawal. Any subscriptions cancelled in this way will not count as a subscription to an ISA.
What if I have a complaint?
We aim to provide a high quality service to customers at all times. Unfortunately mistakes do occur, but when this happens we shall do our best to resolve problems or misunderstandings which arise. Should you need to refer a matter of complaint to us, details of the procedure are available from your local branch or our Customer Helpline. Ultimately your complaint may be referred to the Financial Ombudsman Service.
