England Finance

Jan 13 2018

Variable Rate & Instant Access Savings Accounts

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You are here: Home > Savings > Variable Rate Accounts

Variable Rate Accounts

Our variable rate accounts offer competitive rates of interest. Access to your money is subject to the withdrawal restrictions set out below.

In the event that the balance falls below the minimum operating balance as stated within the relevant product details below, the basic savings rate of interest, which is currently 0.05% Gross p.a./AER (variable), shall apply.

1.05 % Gross p.a./AER (variable)

The maximum amount you can invest is 250,000 ( 500,000 for joint accounts).

  • Interest paid: On maturity 31 May 2018
  • Minimum operating balance: £1,000
  • Maximum balance: £250,000 (£500,000 for Joint Accounts).
  • Withdrawals: unlimited subject to the minimum balance of £1,000 being maintained.
  • Important information about our Limited Issue Online Access Account:

Withdrawals to your Nominated Accounts made before 8pm on a working day will be available to the payee on the next working day.

When money is paid into your account, provided the payment is received by us between 7am and 7pm, you will be able to withdraw the funds that day.

The Society s online savings service will be unavailable each day for 1 hour between 12 midnight and 1am while our systems update.

The account may be closed to further deposits upon a minimum of 30 days written notice.

For balances between 10,000 and 24,999.99:

0.80 % Tax-free p.a./AER (variable)

For balances between 25,000 and 49,999.99:

0.85 % Tax-free p.a./AER (variable)

For balances between 50,000 and 250,000:

0.90 % Tax-free p.a./AER (variable)

The maximum balance is 250,000 including 2017/2018 ISA funds, previous year ISA funds and accrued interest. If the balance exceeds 250,000 including accrued interest the interest rate that shall apply to the whole balance will be 0.40% Tax-free p.a/AER (variable).

The maximum you can invest for the 2017/2018 tax year is 20,000 (less any amount invested in a Stocks and Shares ISA and/or an Innovative ISA and/or Lifetime ISA in the same tax year).

  • Interest paid: annually 30 Nov (commencing 30 Nov 2017)
  • Minimum operating balance: £10,000
  • Maximum balance: £250,000
  • Maximum 2017/2018 investment: The maximum you can invest in the 2017/2018 tax year is 20,000, less any amount invested in a Stocks and Shares ISA and/or an Innovative Finance ISA and/or Lifetime ISA in the same tax year

Withdrawals: Access is limited to 6 withdrawals per calendar year without notice or loss of interest, subject to the minimum balance of 10,000 being maintained. If you exceed this number of withdrawals (including closure of the account), the account will be subject to 30 days’ loss of interest or an equivalent amount on the amount withdrawn.

Further deposits: permitted in future tax years (assuming the account remains open for investment)

The account may be closed for further investment upon a minimum of 30 days written notice after which you will not be able to invest further funds. The maximum for 2017/2018 tax year deposits is 20,000 and the maximum account balance is 250,000 including accrued interest

For balances between 10,000 and 24,999.99:

0.80 % Gross p.a./AER (variable)

For balances between 25,000 and 49,999.99:

0.85 % Gross p.a./AER (variable)

For balances between 50,000 and 250,000:

0.90 % Gross p.a./AER (variable)

The maximum amount you can invest is 250,000 ( 250,000 for joint accounts) including accrued interest. If the balance exceeds 250,000 the interest rate that shall apply to the whole balance will be 0.40% Gross p.a/AER (variable).

  • Interest paid: annually 30 Nov (commencing 30 Nov 2017).
  • Minimum operating balance: £10,000
  • Maximum balance: £250,000 (£250,000 for joint accounts)
  • Withdrawals: Access is limited to 6 withdrawals per calendar year without notice or loss of interest, subject to the minimum balance of £10,000 being maintained. If you exceed this number of withdrawals (including closure of the account), the account will be subject to 30 days’ loss of interest or an equivalent amount on the amount withdrawn.

This account may be closed for further deposits upon a minimum of 30 days notice

Interest Rate:

0.50 % Gross p.a./AER (variable)

  • Interest paid: annually on 30 Sep (commencing 30 Sep 2017)
  • Minimum operating balance: £100
  • Maximum balance: £1,000,000 (£2,000,000 for joint accounts) plus accured interest to the account
  • Withdrawals: unlimited subject to the minimum balance of £100 being maintained

The account may be closed to further deposits upon a minimum of 30 days written notice.

0.50 % Tax-free p.a./AER (variable)

  • Interest paid: annually on 30 Sep (commencing 30 Sep 2017)
  • Minimum operating balance: £1
  • Maximum balance: The maximum you can invest in the 2017/18 tax year is £20,000 (less any amount invested in a Stocks and Shares ISA and/or an Innovative Finance ISA and/or Lifetime ISA in the same tax year).
  • Withdrawals: unlimited withdrawals can be made without notice or loss of interest

The account may be closed for further investment upon a minimum of 30 days’ written notice.

Changes to the Financial Services Compensation Scheme (FSCS)

From 30th January 2017 your eligible deposits with Leeds Building Society will be protected up to a total of 85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This is increasing from 75,000. Although this increase is effective immediately, please bear with us while we update our website and documentation.

Protect your money

Your eligible deposits with Leeds Building Society are protected up to a total of 85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This limit applies to the total of all deposits held in a Leeds Building Society account in either the UK, Gibraltar and/or Ireland. Any deposits you hold above the limit are unlikely to be covered. Please click here for further information or visit www.fscs.org.uk.

Download FSCS leaflet

  • Resolving Problems
  • Intermediaries
  • Ireland
  • Gibraltar

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§ Tax-free means that interest payable is exempt from income tax. Cash ISAs are available to individuals aged 16 and over who are resident in the UK for tax purposes.

† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

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

Leeds Building Society is a member of the Building Societies Association.

Leeds Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. Leeds Building Society is registered on the Financial Services Register under number 164992. You can check this on the FCA website at www.fca.org.uk/firms/systems-reporting/register or by calling 0800 111 6768. Buy to Let mortgages which are for business purposes are exempt from FCA Rules.

We may monitor and/or record your telephone conversations with the Society to ensure consistent service levels (including colleague training). If you are contacting us by email and not using our secure email facility, please remember not to send any personal, financial or banking information because your information isn’t secure.

Head office: 105 Albion Street, Leeds, LS1 5AS

Leeds Building Society 2014-2017


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