E-Saver (Issue 4)Rates correct as at 25 OCT 2017
A simple, everyday savings account that helps you save for the things you want.
Our E-Saver (Issue 4) gives you the flexibility of saving anything from £100 to £1,000,000 (£2,000,000 for joint accounts). An account that can be opened and managed via our website.
0.60% Gross‡ p.a./AER† (variable)
|Account Name||E-Saver (Issue 4)|
|What is the interest rate?||Annual Interest
0.60% Gross‡ p.a./AER† (variable)
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 on 30 September (commencing 30 September 2018).
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. Please see condition 13 and 14 of the Online Investment Conditions which provide details as to when and how we can change the interest rate.|
|What would the estimated balance be after 12 months based on a £1000 deposit?||Assuming that £1,000 is deposited into the account on 1st October and no further deposits or withdrawals are made, then based on an interest rate of 0.60% you will receive a £6.00 interest payment after 12 months, giving an overall account balance of £1,006.00.
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.
Cash/cheque deposits are not permitted (except for your initial investment, which may be made by cheque).
The account can be opened online via our website.
Minimum operating balance: £100.
Maximum balance: £1,000,000 (£2,000,000 for joint accounts) plus accrued interest credited to the account.
The account can only be operated online through our website.
|Can I withdraw money?||Unlimited withdrawals can be made to your Nominated Accounts (as defined in the Online Conditions) without notice or loss of interest, subject to the minimum balance of £100 being maintained.
Cash/cheque withdrawals are not permitted.
When money is paid into your account, provided the payment is received by us between 7am and 7pm, you will be able to withdraw the funds that day. Withdrawals to your Nominated Accounts made before 8pm on a working day will be made available to the payee the next working day.
|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 may be closed to further deposits upon a minimum of 30 days’ written notice.
Please note that even though our accounts can be opened online, not all of our products can be operated online. The details above only provide a summary of the account. Please check the Product Terms and Conditions (PDF) for full details.
Please note that the Leeds Building Society online savings service will be unavailable each day for 1 hour between 12 midnight and 1am, while our systems update.