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4 Year Income Bond (Issue 49)

Rates correct as at 15 OCT 2019

Looking for a fixed rate savings account that will pay interest on a monthly basis? The 4 Year Income Bond (Issue 49) from Leeds Building Society could be just what you need!

Interest rate:

1.50% Gross p.a.

1.51% AER† (fixed)

The term is fixed until 3 December 2023

Account Name4 Year Income Bond (Issue 49)
What is the interest rate?Monthly Interest 1.50% Gross p.a. / 1.51% AER fixed until 3 December 2023.

If the balance falls below £100, the rate of interest that shall apply is 0.05% Grossp.a. / AER variable.

Interest is calculated daily and paid monthly on the last working day of the month and on maturity (3 December 2023). Depending on what date in the month you deposit your initial funds, you may not receive your first interest payment until the last working day of the following month.

Monthly interest must be transferred to either another building society or bank account or to another account held with the Society.
Can Leeds Building Society change the interest rate?The interest rate on this account is fixed, this means the interest rate paid on your account won’t change during the fixed rate term subject to the minimum balance of £100 being maintained.
What would the estimated balance be after 48 months based on a £1000 deposit?Assuming that £1,000 is deposited into the account at the time it is opened and no deposits or withdrawals are made then based on an interest rate of 1.50% you will receive an interest payment of £1.25 on the last working day of each month. In accordance with the terms and conditions of the product, the monthly interest payment of £1.25 must be paid away and can’t be paid into the account therefore the overall account balance at the end of the term will be £1,000.

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?Eligibility:
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.

The account is limited to one account per customer.

How to open the account:

The account can be opened through any of our branches, via our website or by post.

If you currently have an existing Leeds Building Society account it may be possible to transfer your funds, subject to your existing product terms and conditions and the product terms and conditions of this account. Please check with us to see whether this is possible.

Operating the account:
Minimum operating balance: £100. The minimum operating balance is required to open the account.

Maximum operating balance: £1,000,000, £2,000,000 for joint accounts.

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.

Where the account is operated by post, the Society will aim to deal with all transactions within two working days of receipt of a request. However, the Society cannot be held responsible for delays due to unforeseen circumstances and postal delays.
Can I withdraw money?Withdrawals: No withdrawals are permitted until the day after maturity (4 December 2023).

Maturity: The account will mature at midnight on 3 December 2023. On the day after maturity (4 December 2023), your funds will be automatically transferred to an instant access maturity account, unless you provide alternative instructions. Full details including terms and conditions will be provided before maturity.
Additional InformationAccount closure: You can’t close your account until the day after maturity (4 December 2023).

Deposits: The account is limited issue. Once the account is open, you can make deposits up to and including 30 November 2019. After this date the account may be closed for further deposits at any time and without notice.

Tax treatment: 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.
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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)

Before you apply, please make sure you read the Summary Box, Product Terms and Conditions and General Conditions in full.Apply in Branch >Apply by Post >Apply Online

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.