Double Access Cash ISA

An Individual Savings Account gives you tax-free interest on your savings. This one also lets you top up and make limited withdrawals along the way.

Interest rate:


Tax-free§ p.a./AER variable

This might be right for you if...

  • You don’t need to dip into your savings often
  • You’d like to top up your savings as you go
  • You want to transfer funds from other ISAs
  • You have at least £5,000 to deposit

Some things to bear in mind...

  • Interest rates can go down as well as up
  • You can only take out money 2 times a year without loss of interest
  • Up to £20,000 can be paid in this tax year with unlimited transfers from previous years’ ISAs
  • You can’t open this account online

Ready to apply?

Before you apply, please read the Summary Box below.

For more information, take a look at our Product Terms & Conditions (PDF), General Terms & Conditions (PDF) and the FSCS Information Sheet (PDF).

Summary Box

Account Name:  Double Access Cash ISA

What is the interest rate?

Annual Interest 0.50% Tax free§ p.a./AER variable.

If the balance falls below £5,000, the rate of interest which shall apply is 0.05% Tax free§ p.a./AER variable.

Interest is calculated daily and paid annually on 31 March.

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?

The interest rate on this account is variable; this means that we have the ability to change the interest rate.

Please see conditions 14 and 15 of the General Conditions for further details of the circumstances in which we can do this and the notice we will provide.

What would the estimated balance be after 12 months based on a £5,000 deposit?

Assuming that £5,000 is deposited into the account on 1 April, no deposits or withdrawals are made and interest is paid annually and added to the account, then based on an interest rate of 0.50% you will receive a £25.00 interest payment after 12 months, giving an overall account balance of £5,025.00.

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 only available to individuals aged 16 and over who are resident in the United Kingdom for tax purposes, or if not so resident, must 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.

The account can only be held in your name (joint accounts are not permitted).

This account is limited to one per customer.

You may only subscribe to one Cash ISA in a single tax year, although in any such year you may also invest in a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA, subject to the overall ISA limits.

By opening a Cash ISA you will be limiting the amount you can invest in a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA.

A Cash ISA cannot be opened by a person other than the account holder except where someone is unable to complete an application form due to physical or mental incapacity and the Society is provided with such evidence/documentation as it may require (although the account must be in the name of the person incapacitated).

ISA investments will be, and must remain in, the beneficial ownership of the account holder and must not be used as security for a loan.

Account opening:
The account can be opened through one of our branches or by post.

If you currently have an existing Leeds Building Society account it may be possible to transfer your funds, subject to your existing product terms and conditions and the product terms and conditions of this account. Please check with us to see whether this is possible.

Operating the account:
Minimum operating balance: £5,000. The minimum operating balance is required to open the account.

The maximum you can invest in the 2022/2023 tax year is £20,000 (less any amount invested in a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA in the same tax year). You must not exceed the ISA limits in any one tax year.

You can transfer in some or all of your previous tax years savings without affecting your annual allowance for the current tax year, subject to the terms and conditions of your existing account.

The account can be operated in branch or by post. You will also be able to carry out some operations by telephone and online, where you have registered for online services.

Where the account is operated by post, the Society will aim to deal with all transactions within two working days of receipt of a request. However, the Society cannot be held responsible for delays due to unforeseen circumstances and postal delays.

Where you have not invested your full ISA allowance for the 2022/2023 tax year and the account has closed for further deposits, you will only be able to utilise your full ISA allowance by transferring your Cash ISA to another Leeds Building Society Cash ISA or to another ISA manager, in which case you may incur a loss of interest. Please see ‘Can I withdraw money?’ below for further details.

Details on how to transfer existing funds deposited in a Cash or Stocks and Shares ISA with another provider to Leeds Building Society and details on how to transfer a Leeds Building Society Cash ISA to another provider can be found below this summary box.

Deposits in future tax years may be made up to the applicable ISA limit provided that the account has not been closed to further deposits.

Can I withdraw money?

Access is limited to 2 withdrawals per calendar year (including account closure), without notice or loss of interest, subject to the minimum balance of £5,000 being maintained.

Further withdrawals (including account closure) will be subject to 30 days’ loss of interest on an equivalent amount to that withdrawn. This means that you might get back less than you originally deposited.

If the balance falls below £5,000, the rate of interest which shall apply is 0.05% Tax free§ p.a./AER variable.

This is not a flexible ISA meaning any amount withdrawn cannot be replaced and will count towards your yearly ISA limit.

All withdrawals will result in a loss of tax free status on the amount withdrawn.

You can make withdrawals from your account by:
• cash (up to a maximum of £300 in cash in branch each day). You will need to provide 48 hours’ notice, if you require more than this amount (up to a maximum of £1,000);
• cheque; or
• electronic payment (as defined in the General Conditions).

Additional Information

Account closure:
You can close your account at any time and without loss of interest provided you haven’t exceeded the maximum number of withdrawals, as confirmed above.

If the maximum number of permitted withdrawals has been exceeded then you can still close the account at any time but this will be subject to 30 days' loss of interest on an amount equivalent to that withdrawn/transferred. This means that you might get back less than you originally deposited. Interest will be paid immediately up to the date of account closure.

The account may be closed for further deposits at any time. This will be done on a minimum of 30 days’ written notice, after which you will not be able to deposit further funds.

Tax treatment:
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.

The tax treatment of ISAs may change.

Death of an account holder:
In the event of your death, your ISA will be designated as a ‘continuing account of a deceased investor’ until the earliest of: (i) the administration of your estate is completed; (ii) the ISA is closed; or (iii) three years have passed since the date of your death. No further deposits will be permitted into the ISA but your account will continue to receive the tax free benefits.

Keeping you and your information safe

  • We share the information you provide with fraud prevention agencies
  • They use this information to guard against fraud, money laundering and identity theft
  • If any of these are detected, it may prevent you from applying for selected accounts
  • You can find out more about your data protection rights in our Guide to use of your personal data (PDF)

Continuing with your application lets us know we're okay to use your information this way.

Apply online now

Before you apply, please read the summary box above, our Product Terms & Conditions (PDF), General Terms & Conditions (PDF) and the FSCS Information Sheet (PDF).

You can open this account

By post

Looking for something else?

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Protecting your money

Under the Financial Services Compensation Scheme (FSCS), the first £85,000 of your savings is protected.
Find out more