4 Year Income Bond (Issue 23)Rates correct as at 8 SEP 2017
Looking for a fixed rate savings account that will pay interest on a monthly basis? The 4 Year Income Bond (Issue 23) from Leeds Building Society could be just what you need!
1.50% Gross‡ p.a.
|Account Name||4 Year Income Bond (Issue 23)|
|What is the interest rate?||Monthly Interest
1.50% Gross‡ p.a. / 1.51% AER† fixed until 31 October 2021
If the balance falls below £100, the interest rate that shall apply is 0.05% Gross‡p.a./AER† (variable).
Interest is calculated daily and paid monthly on the last working day of the month commencing 29 September 2017 and on maturity (31 October 2021).
Interest must be transferred to either 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.|
|What would the estimated balance be after 48 months based on a £1000 deposit?||Assuming that £1,000 is deposited into the account at the time it is opened and no deposits or withdrawals are made then based on an interest rate of 1.50% you will receive a monthly interest payment of £1.25 on the last working day of each month. As per the terms and conditions of the product, the monthly interest payment of £1.25 must be paid away and cannot be paid into the account therefore the overall account balance at the end of the term will be £1,000.
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?||The account is available to individuals aged 18 or over who are resident in the UK.
The account cannot be opened by corporate bodies, trustees, executors, nominees or charities.
The account can be opened through any of our branches, via our website or by post.
Minimum operating balance: £100.
Maximum balance: £1,000,000 (£2,000,000 for joint accounts).
The account can only be operated in branch or by post.
|Can I withdraw money?||No withdrawals are permitted until the day after maturity (1 November 2021).
The account will mature at midnight on 31 October 2021. On the day after maturity (1 November 2021), your funds will be transferred to an instant access maturity account. Full details including terms and conditions will be provided before maturity.
|Additional Information||Interest is paid gross, without the deduction of income tax. Payment of gross interest does not mean that interest you receive is exempt from tax. The tax treatment depends on the individual circumstances of each customer and may be subject to change in the future. It is your responsibility to seek independent tax advice.
The account is limited issue. Once the account is open, you can make deposits up to and including 31 October 2017. After this date the account may be closed for further deposits at any time and without notice.
Please note that even though our accounts can be opened online, not all of our products can be operated online. The details above only provide a summary of the account. Please check the Product Terms and Conditions (PDF) for full details.