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1 Year Fixed Rate, Fixed Term Cash ISA

1 Year Fixed Rate, Fixed Term Cash ISA

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

Summary Box - Key Product Information
Account Name 1 Year Fixed Rate, Fixed Term Cash ISA
What is the interest rate?

Annual interest


0.30% Gross*/AER**

Interest is calculated daily and paid annually on maturity.

Can Leek United Building Society change the interest rates?

The interest rate on this account is fixed until the ISA 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 £1,003.00. This projection assumes that the amount of £1,000 is deposited in the account 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?

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

  • an existing customer; or
  • a new customer resident in the following postcode areas:
    • CW – Cheshire
    • SK – Cheshire
    • DE – Derbyshire
    • TF – Shropshire
    • ST – Staffordshire
    • WS15 – Staffordshire

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

The account must be opened with a minimum deposit of at least £1,000.

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. Full transfer out and early closure are allowed on this account subject to 120 days loss of interest.

Transfer or closure will not be allowed without the passbook.

Additional information

The account is a fixed term Cash ISA for a period of one year from the date the account is opened. Transfers in or funds from other ISA providers are permitted.

Additional deposits are not allowed during the term of the account.

You will be contacted shortly before maturity of the 1 Year Fixed Rate, Fixed Term Cash ISA 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 The capital and interest must be withdrawn and you will be asked to choose whether you wish to: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
  • 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 interest rate will revert to that of the Society’s Easy Access Cash ISA, applicable at that time.

The above rates are applicable from 1 April 2021.

*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.

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.

  1. These terms and conditions below 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.
  2. The initial investment must be a minimum of £1,000.
  3. You must be 16 years of age or over and resident in the UK to be eligible for the 1 Year Fixed Rate, Fixed Term Cash ISA.
  4. You cannot open an ISA as a joint account or on behalf of any other person.
  5. You cannot open more ISAs than that described in the current legislation.
  6. No additional deposits are allowed. Transfers in from another ISA provider are permitted at the time the account is opened.
  7. Withdrawal of funds will only be permitted in exceptional circumstances and at the discretion of the Society. Full transfer out and early closure are allowed subject to 120 days loss of interest. If the ISA has been open for less than 120 days, the amount of penalty interest will be based on the actual number of days the ISA has been open. This penalty will not be applied in the event of the death of an account holder.
  8. The interest rate is fixed for the specified fixed term.
  9. Interest is calculated on a daily basis and paid on maturity.
  10. Interest may be added to the account, transferred to another Leek United Building Society account or paid direct to your bank account.
  11. The 1 Year Fixed Rate, Fixed Term Cash­ ISA investment will be, and must remain the beneficial ownership of the investor and must not be used as security for a loan.
  12. The 1 Year Fixed Rate, Fixed Term Cash ISA is a limited issue account. The Society reserves the right to close the issue without notice.
  13. If the investment fails to satisfy the provisions of the ISA Regulations, the ISA will become void and we will notify you.
  14. The ISA Manager will satisfy themselves that any person to whom they delegate any of their functions or responsibilities under the terms agreed with the investor is competent to carry out those functions and responsibilities.
  15. On the instructions of the investor and within the time stipulated by the investor, the ISA with all rights and obligations shall be transferred to another ISA Manager.
  16. Tax assumptions are those currently applicable and are subject to statutory change.
  17. Before your account matures we will write to you with your reinvestment options. If no instructions are received, the interest rate will revert to that of the Society’s Variable Rate Easy Access Cash ISA, applicable at that time.
  18. Once you have opened an account, you have 14 calendar days after the account has been open to notify us that you wish to change your mind. If you notify us within this time, we will help you transfer to another of your accounts or (assuming we have received cleared funds) give you back your money together with any charges which would usually apply.

For details relating to the Financial Services Compensation Scheme please click here.

Transferring your ISA

Transferring your existing Cash ISA or Stocks & Shares ISA to a Leek United Cash ISA is easy.

Remember, don’t withdraw from an ISA in order to transfer to another provider as you will lose the tax-free benefits. Instead, Leek United offer a transfer service to do this for you. It is always a good idea to check with your current provider whether any charges apply for transferring your ISA to another provider.

Click on the links below to find out how you can book an appointment with your local branch or apply by post today.

Apply now

Apply in Branch

In Branch

Find out more

To apply for this account in branch, get in touch and book an appointment with us.

Due to Coronavirus and the health & safety of our members and colleagues being our top priority, we have temporarily suspended our face to face, in-branch appointments. However, you can still speak to us and book a face to face video call or telephone appointment to apply for this account.

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.

As you've chosen to open an ISA account, we will also require your National Insurance Number.


Find My Local Branch

To open this account by post, please follow these simple steps:

For your own benefit and protection, please read all the account terms and conditions carefully, then download and print the application form below:

>Cash ISA application form

If you're transferring your Cash ISA or Stock & Shares ISA to us, you'll also need to complete and post the relevant transfer form:

>Cash ISA Transfer Form
>Stocks & Shares ISA Transfer Form




Please read the important information below before you open your account:

>FSCS Sheet
>Statement of Practice Investors
>Savings Fees and Charges




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