Savings guide

Two people sat on sofa smiling

We all know the importance of saving for the future but with so many options it can be difficult to know which account is right for you. At Leeds Building Society, we like to keep things simple, so we have a range of product types, each developed to suit the needs of our members. We have accounts that can be managed online, over the phone or in branch – whatever makes your life a little easier. Choose from our quick links or read our helpful introduction to savings.

What type of account is right for me?

When thinking about what type of savings account would suit you, it's helpful to think about the following:

How much do I need to open my account?

You can open some of our accounts with as little as £1, but all of our accounts have a minimum opening and operating balance, so don't forget to check the terms of each account.

How much do I want to save?

Most of our accounts allow you to save up to a maximum of £1,000,000 (£2,000,000 for joint accounts). 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.

Do I want to save a lump sum or make regular payments?

We can offer accounts for both types of savers, but our Fixed Rate Bonds are especially good if you have a lump sum to save.

Do I need instant access to my money?

We have a range of accounts which offer you instant access to your money, but you can sometimes get a better interest rate if you're happy to not access your money for a fixed period of time. Don't forget to check the terms of each account for details.

Would I be happy to lock my money away for a fixed term in return for better interest?

Doing this can sometimes offer a better rate of interest. Often, the longer you can keep your money aside for, the better the rate. You need to consider if these options are right for you, as you will not be able to access your money during the fixed term. And, of course, interest can vary, which may mean that your fixed rate becomes more or less competitive.

Do I want to manage my account online or in branch?

If you want to open and manage your accounts online, we have a range of dedicated online-only accounts for you. Please see the relevant product information pages for important information about our online facilities.