Notice of reduction of our interest rates

After careful consideration and to balance the needs of our borrowers and savers, we've reduced the interest rates on some of our savings accounts.

If you had an account balance of over £100 at 6th August in any of the products listed below, you should have received a letter or an email from us.

Answering your questions

Account name Your interest rate as at 4 September New interest rate and implementation date
 
Rainy Day Saver   New rate as of 20 September 2019
 
 Balance £10,000+  0.75% Gross p.a./AER  0.50% Gross p.a./AER
 Balance £25,000+  0.80% Gross p.a./AER  0.55% Gross p.a./AER
 Balance £50,000+  0.85% Gross p.a./AER  0.60% Gross p.a./AER
 
Rainy Day ISA   New rate as of 20 September 2019
 
 Balance £10,000+  0.75% Tax-free§ p.a./AER  0.50% Tax-free§ p.a./AER
 Balance £25,000+  0.80% Tax-free§ p.a./AER  0.55% Tax-free§ p.a./AER
 Balance £50,000+  0.85% Tax-free§ p.a./AER  0.60% Tax-free§ p.a./AER
 
E-Saver   New rate as of 20 September 2019
 
   0.60% Gross p.a./AER  0.35% Gross p.a./AER
 
E-ISA   New rate as of 20 September 2019
 
   0.60% Tax-free§ p.a./AER  0.35% Tax-free§ p.a./AER
 
ISA Saver   New rate as of 20 September 2019
 
   0.50% Tax-free§ p.a./AER  0.25% Tax-free§ p.a./AER
 
Easy Access Saver   New rate as of 20 September 2019
 
   1.10% Gross p.a./AER  0.85% Gross p.a./AER
 
Easy Access Account Annual   New rate as of 25 September 2019
 
   0.50% Gross p.a./AER  0.25% Gross p.a./AER
 
Easy Access Account Monthly   New rate as of 25 September 2019
 
   0.50% Gross p.a./AER  0.25% Gross p.a./AER
 
Access Saver   New rate as of 25 September 2019
 
   0.50% Gross p.a./AER  0.25% Gross p.a./AER
 
Access Saver (Monthly)   New rate as of 25 September 2019
 
   0.50% Gross p.a./AER  0.25% Gross p.a./AER
 
Albion Access Account   New rate as of 18 November 2019
 
   0.50% Gross p.a./AER  0.25% Gross p.a./AER
 
Blue and Amber Account (Issue 2)   New rate as of 30 September 2019
 
   0.50% Gross p.a./AER  0.25% Gross p.a./AER
 
CaringSaver   New rate as of 30 September 2019
 
   0.50% Gross p.a./AER  0.25% Gross p.a./AER
 
Access ISA (Monthly)   New rate as of 30 September 2019
 
   0.50% Tax-free§ p.a./AER  0.25% Tax-free§ p.a./AER
 

Answering your questions

Why are you cutting interest rates?

After careful consideration and to balance the needs of our borrowers and savers, we have made the difficult decision to reduce interest rates on some of our savings accounts.

Are all of the Society's savings accounts affected?

Not all of our savings accounts are affected. You’ll find a complete list of those accounts where rates have changed shown above.

When will my interest rate change?

You can find this information shown above. If your balance was over £100 on 6th August 2019, we’ll send you a letter as further confirmation.

What are you reducing my interest rate to?

You can see the new interest rates for the savings accounts affected shown above. Remember that if your balance was over £100 on 6th August 2019, we’ll send you a letter as further confirmation.

Are you able to lower my savings interest rate?

Whilst we don’t like to reduce interest rates for our savers, we are able to do so on the savings accounts shown above. You can find out more about this under section 14.2 of the Society’s General Conditions.

My account is one of those affected, can I withdraw my money?

For all of the savings accounts shown above – with the exception of Rainy Day Saver and Rainy Day ISA – you can withdraw at any time or close your account and move your money without any charges or loss of interest. For Rainy Day Saver and Rainy Day ISA, any charges or loss of interest on withdrawal specified in the product terms and conditions will apply.

Can I move my money to another Leeds Building Society savings account?

Yes of course. Any of our available savings accounts can be opened by our existing customers.