Blue & Amber Account (Issue 8)
A straightforward and flexible way to save that lets you make top-ups and withdrawals as you go. Plus, each year we’ll donate the equivalent to 1% of the total balances in our Blue & Amber accounts (up to the maximum account balance) to the Leeds Rhinos Youth Development Programme.
Gross‡ p.a./AER† variable.
The maximum balance is £20,000 including accrued interest.
This might be right for you if...
- You want access to your money at any time
- You'd like to top up your savings as you go
- You'd prefer to run the account in-branch or by post
Some things to bear in mind...
- Interest rates can go down as well as up
- You can't open this account online
- You can deposit up to £20,000
Account Name: Blue & Amber Account (Issue 8)
What is the interest rate?Annual Interest
2.45% Gross‡ p.a./AER† variable.
• If the balance falls below £1, the rate of interest will be 0.05% Gross‡ p.a./AER† variable.
• If the balance exceeds £20,000 including any interest earned, the interest rate that will apply to the whole balance will be 2.45% Gross‡ p.a./AER† variable.
• Interest is calculated daily and paid annually on 31 October.
• Interest can be credited to the account or transferred to another building society/bank account or to another account that you have with us.
‡Gross means the rate of interest payable before income tax has been taken off.
†AER stands for Annual Equivalent Rate and this is what the interest rate would be if interest was paid and added each year.
Can Leeds Building Society change the interest rate?The interest rate on this account is variable. This means that we can change the interest rate. For further information on how we can change the interest rate and how much notice we need to provide you with, please see our General Conditions, condition 14 ‘Our right to change interest rates’ and condition 15 ‘Letting you know about changes to interest rates’.
What would the estimated balance be after 12 months based on a £1,000 deposit?If you deposit £1,000 in your account at the time it is opened and it earns an interest rate of 2.45%, after 12 months you will receive an interest payment of £24.50. The total estimated balance in your account will be £1,024.50. This assumes that:
• You don’t make any further deposits
• You don’t make any withdrawals and
• The interest is paid annually and added to the account.
This projection is only an illustration and will depend on your individual circumstances.
How do I open and manage my account?Eligibility:
• The account is available to anyone aged 18 or over who are resident in the UK.
• The account cannot be opened by corporate bodies, trustees, executors, nominees or charities.
• You are only allowed one account per customer.
How to open the account:
• The account can be opened through any of our branches or by post.
• The account must be opened in the sole name of the customer and cannot be opened as a joint account.
• If you currently have a 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: £1. The minimum operating balance is required to open the account.
• Maximum balance: £20,000, plus any interest earned and credited to the account.
• The account can be operated in branch or by post.
• Where the account is operated by post, we will try to deal with all transactions within two working days of receiving your request. We can’t be held responsible for delays due to unforeseen circumstances and postal delays.
Can I withdraw money?• Unlimited withdrawals can be made without notice or loss of interest, as long as the minimum operating balance of £1 is maintained.
• If the balance in your account falls below £1, the rate of interest will be 0.05% Gross‡ p.a./AER† variable.
• You can make withdrawals from your account by:
o cash up to a maximum of £300 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;
o internal transfer to another Society account; or
o electronic payment as defined in the Definitions section in our General Conditions.
Additional InformationAccount closure:
You can close your account at any time without notice or loss of interest. Interest will be paid immediately and up to the date that your account is closed.
The account may be closed for further deposits at any time. We will give you a minimum of 30 days’ notice in writing and after this you will not be able to deposit any further money.
Interest is paid gross, which means before income tax has been taken off. Payment of gross interest does not mean that interest you receive will be exempt from tax. The tax treatment depends on your individual circumstances and may change in the future. It is up to you to take independent tax advice.
Leeds Rhinos Youth Development Programme:
Each year we will make a donation to the Leeds Rhinos Youth Development Programme equal to 1% of the total balances held in our Blue & Amber accounts. Please note, this only applies to balances that are below the maximum balance of the product. Balances that are over the maximum limit of £20,000 including any interest earned will not be included.