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Applying for a savings account through Leek United

Regular Savings

A great rate of interest with our Regular Savings Account.

Savings couldn't be easier with our Regular Savings Account.  Whether it's for holidays, Christmas, your first car or childrens university fees.  All you need to do is make regular monthly payments and you'll earn a competitive rate of interest.

What's more, you could also receive a bonus if you make one withdrawal or less during the year.

Please note that this account can only be opened in person, in branch or agency.

Summary Box - Key Product Information
Account Name Regular Savings Account
What is the interest rate?

Interest rate without bonus.

1.75% Gross* / AER**

Interest is calculated daily and paid on the anniversary of the account.

Interest rate with bonus (includes a bonus of 0.50%)

The bonus of 0.5% Gross*/AER** is payable
on the anniversary of the account being opened providing no more than
one withdrawal has been made in the anniversary year.

2.25% gross* / AER**

Interest is calculated daily and paid 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 for investors 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 regular monthly deposit of £84, the estimated balance after 12 months is £1,017.59,  This projection assumes that the account conditions are not satisfied and a bonus is not paid.

Based on a regular monthly deposit of £84, the estimated balance after 12 months is £1,020.33.  This projection assumes that the account conditions are satisfied and the bonus is paid.

These projections are 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.

The account must be opened with a minimum deposit of at least £25 up to a maximum of £500.

Available to UK residents only.

Can I withdraw money?

Withdrawals can be made but these can affect your bonus if more than one withdrawal is made per anniversary year.

Withdrawals will not be allowed without the passbook.

Additional information

Once the initial deposit is made, further monthly payments to the account must be of the same value as the initial deposit.  Variations in monthly deposit amounts cannot be accepted.

Only one account can be opened per customer.

These rates apply from 2 December 2017.

*  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.

For full terms and conditions for this product please click here.

How to apply

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