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Enjoy saving at a pace that suits you with our new Flexible Saver account

Terms and Conditions relating to our Flexible Saver account

These terms and conditions must be read in conjunction with our ‘Statement of Practice Investors’ leaflet, which details generic terms and conditions relating to all our savings accounts.

This account may be opened in person at any of our branches or agencies or via post.

The account must be opened with a deposit of at least £25 and a maximum of £1,000. Save up to a maximum of £1,000 per calendar month.

If you do not utilise the full £1,000 available contribution per calendar month then this cannot be made up in subsequent months.

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 £1,000.

Joint accounts are allowed.

One account per customer.

Interest is paid gross.

The interest rate is variable.

Interest is calculated on a daily basis and paid to the account on anniversary. Please note that where deposits are made by cheque (other than a Leek United Building Society cheque) interest will not begin to be earned until 2 calendar days after the date of receipt.

Once you have opened your Flexible Saver account, a letter will be sent to you enclosing your passbook. Two working days after the date of that letter, you will have 14 days to notify us that you wish to change your mind and the account will be closed with no loss of interest to you.

Withdrawals are not allowed during the 12 month period of the account. Upon the anniversary of the account, the total balance must be withdrawn or transferred to another account. Closure is permitted at any time without penalty.

Withdrawals can be made on the anniversary of the account only, via electronic transfer, internal transfer, cash or cheque.

This is a limited issue account. The Society reserves the right to close the issue without notice.

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

If you wish to make a regular payment into your Leek United Flexible Saver account, once it has been opened, why not do this by setting up a standing order - it's quick and easy to do.

A Flexible Saver account can be opened in person in branch or agency- to make an appointment please contact your nearest branch/agency office. 

It would be helpful if you could complete a savings application form and take this to your appointment, together with proof of identity - for details of what is required, please see our 'Proving your Identity' web page.