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Existing Customer Only Bonds

1 Year Existing Customer Only Fixed Rate, Fixed Term Bond

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

 

Summary Box - Key Product Information

Account Name

1 Year Existing Customer Only Fixed Rate, Fixed Term Bond

What is the interest rate?

Annual interest

 

0.75% Gross* / AER**

Interest is calculated daily and paid annually on maturity.

Monthly interest

 

0.75% Gross* / AER**

Interest is calculated daily and paid monthly on the first of the month.

Can Leek United Building Society change the interest rates?

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

Leek United 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 £1,007.50. 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 a I open and manage my account?

The account can be opened in person at one of our branches or agencies.

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 one year from the date the bond is opened.

To be eligible for the 1 Year Existing Customer Fixed Rate, Fixed Term Bond you must already be an existing customer who has continuously held a Society product for a minimum of 12 months.

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 1 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 The capital and interest must be withdrawn and you will be asked to choose whether you wish to: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 United account.
  • Open a new Leek United 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 variable easy access No Instructions Holding Account Issue 2 or equivalent.  

Further details regarding the No Instruction Holding Account Issue 2 or equivalent will be issued prior to the maturity of the 1 Year Existing Customer Fixed Rate, Fixed Term Bond.     

  The above rates are applicable from 16 June 2020.

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

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

To view the full terms and conditions relating to our 1 Year Existing Customer Only Fixed Rate, Fixed Term Bond, please click here

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.

What next?

View our interest rates


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Savings Fees and Charges


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Proving your Identity


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Savings application forms


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