1 Year Fixed Rate Bond (Issue 406)
With a Fixed Rate Bond, your money is put aside for a set period. During this time, your rate of interest won’t change, so you always know where you stand.
Gross‡ p.a./AER† fixed
The term is fixed until 31 October 2021
The term is fixed until 31 October 2021
This might be right for you if...
- You’d like a guaranteed fixed rate of interest
- You have a lump sum to deposit
Some things to bear in mind...
- You can only access your money after 31 October 2021
- You can’t make deposits after 31 October 2020
Account Name: 1 Year Fixed Rate Bond (Issue 406)
What is the interest rate?Annual Interest 0.70% Gross‡ p.a./AER† fixed until 31 October 2021.
If the balance falls below £100, the rate of interest that shall apply is 0.05% Gross‡ p.a./AER† variable.
Interest is calculated daily and paid on maturity (31 October 2021).
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?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 12 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 0.70% you will receive an interest payment of £7.00 at the end of the fixed term (31 October 2021), giving an overall account balance of £1,007.00.
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?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 www.leedsbuildingsociety.co.uk 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, plus accrued interest credited to the account.
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 (1 November 2021).
Maturity: The account will mature at midnight on 31 October 2021. On the day after maturity (1 November 2021), your funds (including interest) 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 (1 November 2021).
Deposits: The account is limited issue. Once the account is open, you can make deposits up to and including 31 October 2020. 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.