Performance Bond
| Summary Box - Key Product Information for our Savings Account | ||||
|---|---|---|---|---|
| Account Name | Performance Bonds | |||
| Interest rates (AERs) | Gross | Net | AER | |
| Annual income option | ||||
| £2,000 - 1 year | 1.50% | 1.20% | 1.50% | |
| £2,000 - 2 year | 1.75% | 1.40% | 1.75% | |
| £2,000 - 3 year | 2.00% | 1.60% | 2.00% | |
| Monthly income option | ||||
| £2,000 - 1 year | 1.49% | 1.19% | 1.50% | |
| £2,000 - 2 year | 1.74% | 1.39% | 1.75% | |
| £2,000 - 3 year | 1.98% | 1.59% | 2.00% | |
| Tax Status | Interest is paid net of income tax at the appropriate rate. | |||
| Conditions for bonus payments | No bonus payment is payable. | |||
| Withdrawal arrangements | One Year Bond: No withdrawals allowed until maturity. Two Year Bond: No withdrawals allowed during first year. Withdrawals permitted during second year, subject to 90 days loss of interest and standard branch and agency withdrawal limits. Three Year Bond: No withdrawals allowed during first and second years. Withdrawals permitted during third year subject to 90 days loss of interest and standard branch and agency withdrawal limits. |
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| Access | Via branch or post | |||
These rates apply from 2 April 2009.
Gross % rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
The 'net rate' is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate.
AER % rate stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Product features
- Choice of 1, 2 or 3 year term
- Variable interest rates
- Save from £2,000 to £250,000 (please make cheques payable to yourself not Leek United)
- Choice of annual or monthly interest
- Withdrawals allowed, subject to conditions, on 2 and 3 year bonds
- No additional deposits allowed
| One Year Bond | No withdrawals allowed |
| Two Year Bond | Withdrawals allowed in the second year, subject to 90 days loss of interest |
| Three Year Bond | Withdrawals allowed in the third year subject to 90 days loss of interest |
Terms and conditions relating specifically to this account must be read in conjunction with our Statement of Practice Investors leaflet, which details generic terms and conditions relating to all of our savings accounts.
Download an application form PDF - please complete both sides of the form and return.
Please make cheques payable to yourself not Leek United
Details of the Financial Services Compensation Scheme can be found in the 'Other Information' section on the left of this page.
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