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  Savings Rates
Home > Mercantile > Mercantile Savings Rates

Mercantile Accounts
Interest Rates & Key Product Features

Current variable rates effective as at 1 December 2006
Limited issue rates effective from date shown by product name.
Interest rates are subject to variation.

The following accounts may only be opened in our North East branches.

Click the product name to see full details.

Mercantile Monthly Saver (Effective 01/08/2006)
Investment
Current Rate
Withdrawal Terms
Payment of Interest
  
£10+
Gross§/AER†
7.00
No withdrawals allowed until the account matures (12 months from
account opening).
Interest is paid on maturity (12 months from account opening). Interest will be credited to the account.
Notes: Minimum monthly payment of £10, maximum monthly payment of £250 (£500 for joint accounts). The number of payments into the account during the month are not restricted provided the total does not exceed £250 (£500 for joint accounts).


Mercantile Access Bond (Effective 20/03/2007)
Investment
Current
Withdrawal Terms
Payment of Interest
  
£10,000+
Gross§
AER†
5.50
5.50
Unlimited withdrawals can be made without notice or loss of interest. However, the minimum investment and operating balance of £10,000 must be maintained at all times or the account must be closed.
Annual:
Interest paid 1 April 2008 and on maturity (1 October 2008). Can be credited to account or paid to a bank account or other account with the Society.
Investment
Current
Withdrawal Terms
Payment of Interest
  
£10,000+
Gross§
AER†
5.25
5.38
Unlimited withdrawals can be made without notice or loss of interest. However, the minimum investment and operating balance of £10,000 must be maintained at all times or the account must be closed.
Monthly:
Interest paid on last working day of each month.
Notes: Minimum balance £10,000. Maximum balance £250,000 per investor (£500,000 for joint accounts).

Important notes

§ Gross means the rate payable before the deduction of tax.

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

Leeds Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the scheme are limited to a maximum payment of £31,700, that is 100% of the first £2,000 of the investor’s total shares and/or deposits in the Society, and 90% of the next £33,000. Most investors are covered, including individuals and small firms. A small number of catagories of share and deposits are not covered, for example deferred shares - permanent interest bearing shares. Although most shares are denominated in sterling, all other currencies are covered. Further details are available on request from the Society.

Leeds Building Society is authorised and regulated by the Financial Services Authority and our registration number is 164992. The Society is a member off the Financial Ombudsmen Service. The Society subscribes to the Banking Code which establishes minimum standards of good banking practice. A copy of the Code is available on request from your local branch or our Customer Helpline on 0113 225 7777.

Other taxes or costs may exist that are not paid by Leeds Building Society.