What is the interest rate?

Can Leek Building Society change the interest rates?

The interest rate is fixed.

No matter what happens to interest rates, we won't change the rate until the account matures at the end of the 1 year term.

What would the estimated balance be after the full term 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.
• The account must be opened with a minimum deposit of £1,000.

How to put money into your account

We must receive the money you're using to open your account, and any other money you want to pay in (including ISA transfer instructions) within 14 calendar days of opening it. After the period, you won't be able to pay any additional money in.

You may pay in up to your annual ISA allowance depending on any money you have already paid into other ISA's. You won't be able to pay in more money in future tax years. 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. Just let us know and we'll send your request to your current provider within five working days. 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?

You can't withdraw part of your money (including any interest paid into the account).

You can close or transfer the full ISA at any time but we will charge you the equivalent of 120 days' interest of the full balance. If you haven't earned enough interest to cover this, you may get back less than you paid in.

What happens when the fixed period ends (matures)

• The account will mature after a period of 1 year from the date the account was opened.
• We'll write to you at least 14 days before the account matures with details of how you can re-invest your savings with us or take out some or all of the money.
• If you take no action, the money in your account will be automatically re-invested into the Easy Access Cash ISA or equivalent. This is an easy access account. You can take money out whenever you wish.

Additional information