What is the interest rate?

Can Leek Building Society change the interest rates?

The interest rate on this account is variable, so it can go up or down. If the rate goes down, we’ll write to you around 14 days before the rate changes.

For more details about why we may change the rate as well as how and when we’ll let you know, please see our General Savings Terms and Conditions.

What would the estimated balance be after 12 months based on a £1,000 deposit?

How do I open and manage my account?

Eligibility

• You must be a UK resident and aged 18 or over.
• You can’t open this account as a joint account or for a child in trust.
• The account is for personal use only. It is not for businesses, clubs or charities.

How to open and manage your account

• You can open an account online, in branch or by post.
• You must provide your National Insurance number.
• You need to pay money into your account within 14 calendar days of opening it. If you don’t we may close your account.
• To manage your account in branch, you’ll need to ask us for a passbook or provide photographic identification. This can be a current driving licence or passport.

How to put money into your account

You may pay in up to your annual ISA allowance each tax year depending on any money you have already paid into other ISAs. However, you may only subscribe to one Cash ISA in a single tax year with Leek Building Society. The ISA allowance is set by HM Revenue and Customs.

You can...

• Pay in cash or cheques in a branch.
• Post us a cheque. Please make sure cheques are payable to yourself and not Leek Building Society.
• Set up transfers from an account with another bank or building society or another account with us.
• Transfer in current and/or previous years' ISA savings using an ISA transfer. If you're transferring in your current years' ISA savings then you must transfer all of it. You should check with your current provider to see if any charges apply for transferring your ISA to another provider.

How to keep track of your account

• You can view your statement online. If you have a passbook, post it to us or pop into a branch to get it updated.

Can I withdraw money?

How to take money out of your account

• You must give 60 calendar days’ notice to withdraw money or complete a partial ISA transfer.
• To complete a full ISA transfer or close your account penalty free, give 60 days’ notice. For an immediate closure, you must pay the equivalent of 60 days’ interest on the closing amount. If you haven’t earned enough interest to cover this, you may get back less than you paid in.
• You can only have one notice period running at a time.
• The amount you wish to put on notice cannot exceed your available balance.
• This is not a flexible ISA, any amounts withdrawn can only be replaced by using your current years’ ISA subscription allowance.

Giving notice using your Leek Online account

• Notice given online can’t be cancelled.
• Once the 60 days’ notice period ends, your money will be sent to your nominated bank account. This will be on the next working day.
• If your withdrawal is over £25,000, you have seven calendar days after your notice period ends to request a CHAPS payment. A fee is payable. Please see our fees and charges leaflet for more information.

Giving notice in branch

• Once the 60 days’ notice period ends you have seven calendar days to visit a branch and make your withdrawal. You should complete your full withdrawal requirements on the day you visit.

Giving notice by post

• Your notice period will start the day we receive your instructions.
• Once the 60 days’ notice period ends, your withdrawal will be actioned. This will be on the next working day.

You can…

• ISA transfer to another Leek Building Society ISA or to another ISA provider, without losing your tax-free status. We’ll send your money and required information to your new provider within five working days of receiving their request. If you’re transferring your current years’ ISA savings then you must transfer all of it.
• Transfer money to another Leek Building Society account or to your nominated bank account.
• Ask for a cheque in branch or by post.
• Visit a branch to ask for cash. 

Additional information