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Savings

Easy Access Cash ISA (Issue 7) Savings Account

This account might be right for you if you:

  • Would like easy access to your money
  • Want to be able to transfer in ISA savings from other ISAs
  • Are happy with a variable rate of interest that can go up or down

Summary

Interest rate
3.65% AER
Available to
Existing & New customers
Minimum initial deposit
£1
Interest
Paid annually

Key Product Information

A Leek Building Society Cash ISA provides you with an excellent way to save up to £20,000 this tax year, and as your interest is not taxed, all of the interest you earn you keep.

From the start of the tax year which begins on 6 April, you are able to utilise your tax allowance for that year. Further details of the Cash ISA tax allowance applicable at the current time can be found at www.gov.uk/individual-savings-accounts.

Tax treatment depends on your individual circumstances and may change.

What is the interest rate?

Annual interest
3.65% Tax-Free/AER
We calculate the interest daily and pay it annually on 1 January.

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 Statement of Practice Investors leaflet.

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

The estimated balance after 12 months would be £1,036.50.

This would be the balance if £1,000 is paid in at the time the account is opened, and no money is taken out or paid in. In this example all interest is paid into the account and no changes are made to the interest rate.

This illustration is just an example to help you compare accounts. It doesn’t consider any individual circumstances.

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 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 ISA's. 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?

This is an easy access account. You can take money out whenever you wish. This is not a flexible ISA, any amounts withdrawn can only be replaced by using your current years' ISA subscription allowance.

How to take money out of your account

  • ISA transfer to another Leek Building Society ISA or to another ISA provider, without losing your tax-free status. 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.
  • Closure is allowed at any time without penalty.
Additional information

You have a 14 day cooling off period after you open an Easy Access Cash ISA. This means that if you change your mind, you have 14 calendar days to close the account without notice, charge or loss of interest. Day 1 starts on the day you open the account.

Interest on ISAs is paid tax-free, without tax deducted. Annual Equivalent Rate (AER) shows what the interest rate would be if interest is paid and added once a year.

ISAs are a savings scheme initiated by the Government and are subject to change by them. For example, the favourable tax treatment may not be maintained.

This is not a payment account.

Accounts can be withdrawn from sale at any time without notice.

You should read these terms and conditions together with our Statement of Practice Investors leaflet to fully understand the details of your account.  This includes standard terms and conditions relating to all our savings accounts.

The above rate is effective from 1 October 2023

We’re here to help
If you’ve any questions about these Terms and Conditions or your account, please get in touch. You can:

  • Send a secure message from your Leek Online account
  • Pop into a branch
  • Call us on 0800 093 0002 between 9am and 5pm, Monday to Friday

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

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