Launch Recite Me assistive technology

Ask us your question

Need help?Ask us a question

2 Year Existing Customer Only Fixed Rate, Fixed Term Bond
Banner Image

2 Year Existing Customer Only Fixed Rate, Fixed Term Bond

Benefit from a 5.41% Gross¹/ 5.55% AER² interest rate fixed for 2 years.


To be eligible to open one of our Existing Customer Only Bonds, you must already be an existing customer who has continuously held a Leek Building Society product for a minimum of 12 months.

Summary Box - Key Product Information

What is the interest rate?

Monthly interest
5.41% Gross¹/ 5.55% AER²
Interest is calculated daily and paid monthly on the first of each month.

Can Leek United Building Society change the interest rates?

The interest rate on this Bond is fixed until the Bond maturity date.

Leek Building Society will not change the interest rate on this account.

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

Based on a deposit of £1,000 the estimated balance after 12 months is £1,055.50. This projection assumes that the amount of £1,000 is deposited in the Bond at the time it is opened and that no further deposits or withdrawals are made for the full interest period and is based on interest paid annually.

This projection is provided for illustration purposes only.

How do I open and manage my account?

To be eligible this product you must already be an existing customer who has continuously held a Society product for a minimum of 12 months.

The account can be opened in person at one of our branches, online or by post.

You can pay into this account for 30 days after the account is opened. After this, your account will be closed to further deposits. If we don't receive your first payment within 30 days, the account will be closed.

The account must be opened with a minimum deposit of at least £1,000. A maximum of £250,000 can be held in the account.

Available to UK residents only.

Can I withdraw money?

Withdrawal of funds will only be permitted in exceptional circumstances and at the discretion of the Society.

Additional information

The account is a Fixed Term Savings Bond for a period of two years from the date the Bond is opened.

Additional deposits are not allowed during the term of the Bond.

Once selected the frequency of interest payments cannot be changed between annual and monthly.

You will be contacted shortly before maturity of the 2 Year Existing Customer Fixed Rate, Fixed Term Bond to ascertain your requirements. The capital and interest must be withdrawn and you will be asked to choose whether you wish to:

  • Transfer the balance to an existing Leek Building Society account.
  • Open a new Leek Building Society account and transfer the balance into the new account.
  • Transfer to another bank/building society account. (Please note that transfers will reach your account the following working day).

If no instructions are received, the capital and interest will be transferred to the Society’s easy access No Instruction Holding Account Issue 2 or equivalent.

Further details regarding the No Instruction Holding Account Issue 2 or equivalent will be issued prior to maturity of the 2 Year Fixed Rate, Fixed Term Savings Bond.

The above rates are applicable from 16 October 2023.

¹ Gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

² AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

In some circumstances, customers will be required to pay tax on interest earned. Please contact HM Revenue & Customs for further information or view their website.

The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.

Apply online

Before you apply please ensure you’ve read the summary box and the terms and conditions of the account.

Already registered?

Login & Apply

Not yet registered?

Register & Apply

Apply by post or in branch

You can apply for this account either by post or by visiting your local branch.

To open this account by post, please follow these simple steps:

  1. For your own benefit and protection, please read all the account terms and conditions carefully, then download and print the application form below:

    Savings account application form

  2. Please read the important information below before you open your account:

    FSCS Sheet

    Statement of practice investors

    Saving fees and charges

  3. Complete your savings application form and post it, along with your cheque deposit (made payable to the account holder) to:

    Savings Department, 50 St. Edward Street, Leek Staffordshire, ST13 5DL


To apply for this account in branch, get in touch and book an appointment with us.

We may ask you to provide ID to confirm your name and address. To assist you, we try to verify this electronically. If we are unable to, we would require your paper documentation instead. For a full list of what documents are acceptable, please read our Proving your identity leaflet by clicking here.

You will also need to bring a cheque or cash for at least the minimum investment to open the account.

Penalty-free access to your savings if your life circumstances significantly change

When life gets complicated the last thing you should have to worry about is money. So if your circumstances change and you need access to your savings to cope, we will review your account(s) and waive any penalties and withdrawal restrictions*. This even applies to fixed rate bonds and ISAs.

*A significant change in circumstances is defined as: critical or terminal illness, death, redundancy, nursing home or elderly care costs, divorce or court order, for you or an immediate relative