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Regular Saver Account

Regular Saver Account

Benefit from a 1.45% Gross¹/AER² variable interest rate.

Apply

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.

Summary Box - Key Product Information

What is the interest rate?

Annual interest
£1+ 1.45% Gross¹/AER²
Interest is calculated daily and paid annually on the anniversary of the account.

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 monthly deposit of £83.33?

Based on a regular monthly deposit of £83.33, the estimated balance after 12 months is £1,007.85.

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 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

Customers must be age 16 or over.

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

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:

    Savings account application form

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

    FSCS Sheet

    Statement of practise 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.