5 Year Fixed Rate Bond (Issue 254)Rates correct as at 24 JAN 2017
Looking for a straightforward savings account with the security of a fixed rate? The 5 Year Fixed Rate Bond (Issue 254) from Leeds Building Society could be just what you need!
You can deposit any amount you like between £100 and £1,000,000 (£2,000,000 for joint accounts), plus accrued interest credited to the account.
Also, the account is easy to run – you can simply operate it through your local branch or by post.
1.55% Gross‡ p.a./AER† (fixed)
|Account Name||5 Year Fixed Rate Bond (Issue 254)|
|What is the interest rate?||Annual Interest 1.55% Gross‡p.a./AER† fixed until 28 Feb 2022.
If the balance falls below £100, the basic investment rate of interest which is currently 0.05% Gross‡p.a./AER† (variable) shall apply.
Interest is calculated daily and paid annually (commencing 28 Feb 2018) and paid on maturity (28 Feb 2022).
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?||No – the rate of interest won’t change during the fixed rate period subject to the minimum balance of £100 being maintained. Please see condition 3.1 of the Product Terms and Conditions for further information.|
|What would the estimated balance be after 60 months based on a £1000 deposit?||Assuming that £1,000 is deposited into the account at the time it is opened and no further deposits or withdrawals are made then based on an interest rate of 1.55% you will receive a £79.93 interest payment at the end of the fixed term (28 February 2022), giving an overall account balance of £1,079.93.
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 can be opened through any of our branches, via our website or by post.
Minimum investment and operating balance: £100.
Maximum investment: £1,000,000 (£2,000,000 for joint accounts) plus accrued interest credited to the account.
The account can only be operated in branch or by post.
|Can I withdraw money?||No withdrawals are permitted until the day after maturity (01 Mar 2022).
The account will mature at midnight on 28 Feb 2022. On the day after maturity (01 Mar 2022), your funds (including interest) will be transferred to an instant access maturity account. Full details including terms and conditions will be provided before maturity.
|Additional Information||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.
The account is limited issue. Once the account is open, you can make deposits up to and including 31 March 2017. After this date the account may be closed for further deposits at any time and without notice.
The above only provides a summary of the account. Please note that only some of our accounts can be operated online, even though they can be opened online. Please check the Product Terms and Conditions for full details.