Regular Saver (Issue 16)Rates correct as at 1 JUN 2018
Our Regular Saver is designed to help you make regular monthly deposits, but is flexible enough that you don’t have to.
When you first open a Regular Saver (Issue 16), the maximum amount you can deposit into the account is £250 (£250 for joint accounts). The account balance then increases each month by a maximum of £250 up to a maximum total balance of £3,000 (£3,000 for joint accounts) at the end of the fixed term period. Please see below for more information.
If you have the odd month when you can’t make a deposit, you can top up your account later on with a bigger payment – up to your maximum balance for that month.
That means you won’t lose out if you can’t put savings aside every month.
Note that you can only have one Regular Saver (Issue 16) at a time (including joint accounts).
Please note that you cannot open a Regular Saver (Issue 16) if you already have a Regular Saver product with the Society, with the exception of Regular Saver (Issue 4). If you have one of these accounts and open the Regular Saver (Issue 16), the money deposited in the Regular Saver (Issue 16) account will be transferred to an instant access account.
2.55% Gross‡ p.a./AER† variable
|Account Name||Regular Saver (Issue 16)|
|What is the interest rate?||Annual Interest 2.55% Gross‡p.a./AER† variable.
The maximum initial deposit is £250 (£250 for joint accounts). The account balance increases by £250 per month up to a maximum total balance of £3,000 (£3,000 for joint accounts) at the end of the fixed term period (02 June 2019). Please see table below for more information.
If the maximum account balance is exceeded at any point, the interest rate that shall apply to the whole balance will be 0.50% Gross‡p.a./AER† (variable). This will apply for the period of time that the maximum balance is exceeded.
If the balance falls below £50, the rate of interest that shall apply is 0.05% Gross‡p.a./AER† (variable).
Interest is calculated daily and paid on maturity (02 June 2019).
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?||Yes, the interest rate 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.|
|What would the estimated balance be after 12 months based on a £250 deposit?||If you open an account on 01 June 2018 and deposit £250 in each subsequent month up to 02 June 2019, if no withdrawals are made, then based on an interest rate of 2.55% you will receive a £41.80 interest payment at the end of the term, giving an overall account balance of £3,041.80.
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.
Minimum operating balance: £50.
Maximum account balance increases by £250 per month (see table below):
Maximum total balance at maturity: £3,000 (£3,000 for joint accounts).
You can only open one RegularSaver (Issue 16) at a time (including joint accounts).
You cannot open this account if you already have a Regular Saver product with the Society, with the exception of Regular Saver (Issue 4). If you have one of these accounts and open the Regular Saver (Issue 16), the money deposited in the Regular Saver (Issue 16) account will be transferred to an instant access account.
The account can be opened through any of our branches, via our website or by post.
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.
|Can I withdraw money?||Access is limited to one withdrawal without notice or loss of interest prior to maturity and subject to the minimum operating balance of £50 being maintained.
The account will mature at midnight on 02 June 2019. On the day after maturity (03 June 2019), 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.
Information correct as at 1 June 2018.
The Summary Box sets out only the key information, for full details please read our
Your savings are also protected by the FSCS. For details please read our FSCS Information Sheet (PDF)
Alternate ways to apply
Visit your local branch and our friendly staff will help you to open your account.
Download your savings application pack to apply by post.