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5 Year Fixed Rate Bond

This account might be right for you if you:

  • Don't need access to your money for 5 years
  • Want a fixed rate of interest that's guaranteed for 5 years
  • Have a lump sum of at least £1000 to deposit and don't want to continue paying in over the term


Interest rate
3.70% AER
Available to
Existing & New customers
Minimum initial deposit
Paid annually

Key Product Information

A Fixed Rate, Fixed Term Bond offers a higher rate of interest as your money is ‘locked-in’ for a specific amount of time.

What is the interest rate?

Annual interest
3.70% Gross¹/AER²
Interest is calculated daily and paid annually on anniversary and at maturity.

Can Leek 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 £1,037.00. 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?

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

You can pay into this account for 14 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 14 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 five 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 5 Year 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 The capital and interest must be withdrawn and you will be asked to choose whether you wish to: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 Saver or equivalent.

Further details regarding the Easy Access Saver or equivalent will be issued prior to maturity of the 5 Year Fixed Rate, Fixed Term Savings Bond.

The above rates are applicable from 1 June 2024.

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 annually.

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.

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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 relevant application form below:

      Savings account application form

      ISA application form

      Application form for a child

      Junior ISA Application

    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.

How can we help you?

We're always happy to help you, whatever your query. You can contact us via phone, online enquiry or pop into any of our branches.

For new savings account enquiries
0800 093 0002

Monday - Friday 9am - 5pm

For dedicated mortgages, savings, insurance and financial planning numbers, visit our contact hub here.

For all savings administration enquiries
0800 281 9308

Monday - Friday 9am - 5pm