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Savings

Regular Saver Account

This account might be right for you if you:

  • Are over the age of 16
  • Only require up to 3 withdrawals per year
  • Are happy with a variable rate of interest that can go up or down

Summary

Interest rate
5.25% AER
Available to
Existing & New customers
Minimum initial deposit
£1
Interest
Paid annually

Key Product Information

Saving little and often really adds up with a Regular Saver. If you’re looking to start saving or want to put aside some spare cash each month, a Regular Saver Account could help. You’ll be able to invest up to £500 per month, then sit back and watch your savings grow. So, whether you want to save for your next holiday, your dream car, a family wedding, Christmas or even a house deposit, our Regular Saver Account could be for you.

What is the interest rate?
Annual interest
£1+ 5.25% Gross¹/AER²
Interest is calculated daily and paid annually on the anniversary of the account.
Can Leek Building Society change the interest rates?

The interest rate on this account is variable.

Leek Building Society has the right to change interest rates in certain circumstances. Please see the Society’s Statement of Practice Investors leaflet which provides further information on these circumstances.

What would the estimated balance be after 12 months based on a monthly deposit of £83.33?

Based on a regular monthly deposit of £83.33, the estimated balance after 12 months is £1,028.51.

This projection is provided for illustration purposes only and assumes that each deposit is made on the first day of each calendar month, no further deposits are made in that month and there is no change to the interest rate.

How do I open and manage my account?

To be eligible for this account, you must be either:

  • An existing customer who has continuously held a Leek Building Society product for a minimum of 12 months: or
  • a new customer resident in the following postcode areas:
    • CW – Cheshire
    • SK – Cheshire
    • DE – Derbyshire
    • TF – Shropshire
    • ST – Staffordshire
    • WS15 – Staffordshire

Customers must be age 16 or over.

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

The account must be opened with a deposit of at least £1 and a maximum of £500. Save up to a maximum of £500 per calendar month. A maximum of £50,000 can be held in the account.

Available to UK residents only.

Can I withdraw money?

A maximum of 3 withdrawals can be made per year (from opening date to anniversary).

Withdrawals can be made on the account, via electronic transfer, internal transfer, cash or cheque.

Closure is permitted at any time without penalty.

Withdrawals and closures in branch will not be allowed without the passbook.

Additional information

After the initial deposit, you don’t have to make a deposit each month. The maximum you can increase your balance by each calendar month is £500.

Only one account can be opened per customer.

Tax assumptions are those currently applicable and are subject to statutory change.

 

The above rates are applicable from 1 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.

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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

Leek