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Easy Access Cash ISA (Issue 7)

Easy Access Cash ISA (Issue 7) Savings Account

Benefit from a 0.50% Gross¹/AER² variable interest rate.

Apply

A Leek United 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.

Summary Box - Key Product Information

What is the interest rate?

Annual interest
£10+ 0.50% Gross¹/AER²
Interest is calculated daily and paid annually on 1 January.

Can Leek United Building Society change the interest rates?

The interest rate on this account is variable.

Leek United 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 £1,000 deposit?

Based on a deposit of £1,000 the estimated balance after 12 months is £1,005.00. 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.

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 who has continuously held a Leek United 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

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

The account must be opened with a minimum deposit of at least £10.

Available to UK residents only.

Can I withdraw money?

Yes, you can withdraw money from your account. If you withdraw from your Cash ISA you cannot reinvest that amount back into this account in the same tax year if you have paid the maximum annual limit.

Withdrawals will not be allowed without the passbook.

Withdrawals can be made subject to standard branch withdrawal limits.

Additional information

Open to all UK residents over the age of 16 years.

Transfers from other providers are accepted.

The above rates are applicable from 14 March 2022.

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.

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

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 application form below:

    Cash ISA application form

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

    FSCS Sheet

    Statement of Practice Investors

    Savings 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.
 

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