Regular Saver (Issue 31)

The Regular Saver lets you save every month while earning a variable interest rate.

Interest rate:


Gross p.a./AER variable until 31 July 2024.

The term is fixed until 31 July 2024

This might be right for you if...

  • You don't need to dip into your savings often

Some things to bear in mind...

  • Interest rates can go down as well as up
  • Withdrawals are limited to 1 each year without loss of interest (including account closure)

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:  Regular Saver (Issue 31)

What is the interest rate?

Annual Interest

1.45% Gross p.a./AER variable until 31 July 2024.

• If the balance falls below £100, the rate of interest which shall apply is 0.05% Gross p.a./AER variable.

• Interest is calculated daily and paid annually on 31 July (commencing 31 July 2023) and on maturity (31 July 2024).

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

Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.

AER stands for Annual Equivalent Rate and illustrates 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 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 24 months based on a £250 deposit?

Assuming that £250 is deposited into the account at the time it is opened and on the last day of each subsequent month for 24 months, no deposits or withdrawals are made and interest is paid annually and added to the account, then based on an interest rate of 1.45% you will receive a £83.64 interest payment after 24 months, giving an overall account balance of £6,083.64.

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 is limited to one account per customer (including joint accounts), and you may only hold one Leeds Building Society Regular Saver product at a time. If a second Regular Saver account is opened all funds in the second account will be transferred to the current instant access account available to new customers.

How to open the account:

• The account can be opened through any of our branches, via our website 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: £100. The minimum operating balance is required to open the account.

• The maximum monthly deposit is £250 per month up to a maximum balance at the end of the term of £6,000, £6,000 for joint accounts, plus accrued interest credited to the account. If the balance exceeds £6,000 plus accrued interest, the interest rate that shall apply to the whole balance will be 0.65% Gross p.a./AER variable.

• 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.

Can I withdraw money?

• Access is limited to 1 withdrawal per calendar year (including account closure) without notice or loss of interest, subject to the minimum balance of £100 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 £100, the rate of interest which shall apply is 0.05% Gross p.a./AER variable.

• You can make withdrawals from your account by:

o cash (up to a maximum of £300 in cash in branch each day), you will need to provide 48 hours’ notice if you required more than this amount (up to a maximum of £1,000);

o cheque;

o internal transfer to another Society account; or

o electronic payment (as defined in the General Conditions).


• The account will mature at midnight on 31 July 2024. On the day after maturity (1 August 2024), your funds (including interest) will be automatically transferred to an instant access maturity account, unless you provide alternative instructions. Full details including terms and conditions will be provided before maturity.

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:

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.

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).

Other ways to apply

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