1 Year Fixed Rate Cash ISA (Issue 105)Rates correct as at 15 MAR 2018
If you’re looking for the security of a fixed tax-free interest rate, our 1 Year Fixed Rate Cash ISA (Issue 105) could be for you.
1.25% Tax-free§ p.a./AER† (fixed)
|Account Name||1 Year Fixed Rate Cash ISA (Issue 105)|
|What is the interest rate?||Annual Interest 1.25% Tax free§ p.a./AER†(fixed until 30 April 2019).
If the balance falls below £100, the rate of interest which shall apply is 0.05% Tax free§ p.a./AER† (variable).
Interest is calculated daily and paid on maturity (30 April 2019).
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?||No. The rate of interest won’t change during the fixed rate period 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 further deposits or withdrawals are made then based on an interest rate of 1.25% you will receive an interest payment of £12.50 at the end of the fixed term (30 April 2019), giving an overall account balance of £1,012.50.
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 16 or over. You must be a UK resident for tax purposes or be performing duties as a Crown employee, or be married to, or in a civil partnership with such a person.
The account can only be held in your name.
You may only subscribe to one Cash ISA in a single tax year.
Account opening and operation
The account can be opened through any of our branches, via our website or by post. You will also be able to carry out some operations by telephone and online, where you have registered for online services.
Minimum operating balance: £100.
Maximum balance: £20,000 in the 2017/2018 tax year less any amount you have already subscribed in a Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA in the same tax year. From 6 April 2018 the maximum you can invest in the 2018/2019 tax year is £20,000 less any amount invested in a Stocks and Shares ISA and/or an Innovative Finance ISA in the same tax year.
You have until 5 April 2018, to invest your 2017/2018 ISA tax allowance (where you have not already done so).
This account will close for further deposits on 30 April 2018. If you have not invested your full ISA allowance for the 2018/2019 tax year by this date, you will only be able to do so by investing funds in another type of ISA or by transferring your Cash ISA to another Cash ISA (either with us or another ISA provider), in which case you may incur a loss of interest.
|Can I withdraw money?||Withdrawals/transfers are permitted, although they will be subject to 60 days’ loss of interest or an equivalent amount withdrawn/transferred.
This is not a flexible ISA meaning any amount withdrawn cannot be replaced and will count towards your yearly ISA limit.
You can make withdrawals from your Account by:
• cash (up to a maximum of £300 in cash in branch each day). You will need to provide 48 hours’ notice, if you require more than this amount (up to a maximum of £1,000);
• Electronic Payment (as defined in the General Conditions); or
The account will mature at midnight on 30 April 2019. On the day after maturity (1 May 2019), your funds (including interest) will be transferred to an instant access Cash ISA maturity account. Full details including terms and conditions will be provided before maturity.
|Additional Information||This is a Cash ISA. Interest payable is exempt from income tax. The tax treatment depends on the individual circumstances of each customer and may be subject to change in the future.
The amounts you can invest are set by HM Revenue & Customs (HMRC) and therefore may change.
Information correct as at 15 March 2018.
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)
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.