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Savings & Investments
5 Year Fixed Rate ISA (Issue 17)
If you want to save tax free – and also want to enjoy the reassurance of guaranteed returns – a Leeds Building Society 5 Year Fixed Rate ISA (Issue 17) may be just what you’re looking for. It’s a refreshingly simple savings account, which combines the tax advantages of an ISA with great rates and efficient service from Leeds Building Society.
What’s more you can easily transfer your existing ISA funds to secure this great interest rate.
The Financial Services Authority is the independent financial services regulator. It requires us,
Leeds Building Society, to give you this important information to help you to decide whether our 5 Year Fixed Rate ISA (Issue 17) is right for you. You should read this document carefully so that you understand what you are buying, then
keep it safe for future reference.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | 5 Year Fixed Rate ISA (Issue 17) |
| Interest Rates (AERs) | See the "How much interest will I earn?" table below. |
| Tax Status | This is a tax-free account so interest payable is exempt from income tax. |
| Conditions for bonus payment | There is no bonus available on this account. |
| Withdrawal arrangements | Withdrawals/transfers can be made of up to 25% of your capital investment without notice or loss of interest prior to maturity (30 April 2015). If you exceed this limit, the account will be subject to 180 days loss of interest or an equivalent amount on the amount withdrawn/transferred. |
| Access | Account can be opened through any of our branches, via our website or by post, and can be operated through any of our branches or by post. |
How much interest will I earn?
| Investment | Annual Interest % Tax-free§ p.a./AER† (Fixed) |
|---|---|
| £1+ | 4.60 |
Rates correct as at 26 February 2010
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £1 and the maximum investment and operating balance is £3,600 in 2009/2010 tax year (plus previous years' subscriptions).
Please note the new ISA investment limits for over 50's from 6 October 2009 which will apply whilst the issue remains open for further investment.
When is interest paid?
Interest is paid annually on 5 April (commencing 5 April 2010) and on maturity (30 April 2015).
How is interest paid?
Annual interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society. Where annual interest is credited to the account then all interest earned can be withdrawn between 6 and 30 April each year without notice or loss of interest.
Transfers in
To transfer all or part of your existing ISA from another ISA provider, simply complete the ISA transfer form and application form and we'll do the rest.**
Transfers out
You can make transfers of up to 25% of your capital investment without notice or loss of interest prior to maturity (30 April 2015). If you exceed this limit, the account will be subject to 180 days loss of interest or an equivalent amount on the amount withdrawn.
What happens to my investment at maturity?
The 5 Year Fixed Rate ISA (Issue 17) will mature on 30 April 2015. At the end of the fixed term, subject to Government legislation, your account will remain an ISA. On maturity, the Society will transfer your investment (including interest) to a maturity ISA product. Full details, including terms and conditions, will be provided before maturity.
New investment limits for over 50's from 6 October 2009
On 6 October 2009, the ISA subscription limit increased to £10,200 for anyone eligible to invest in an ISA who was born on or before 5 April 1960 (i.e. who will be aged 50 or over during the current tax year). Up to £5,100 of the new ISA allowance can be saved in a cash ISA with one provider. The remainder of the £10,200 can be invested in a stocks and shares ISA with either the same or another provider. Alternatively, the full £10,200 can be invested in a stocks and shares ISA with one provider.
These higher limits will apply to all eligible ISA investors with effect from 6 April 2010.
