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Savings & Investments
Instant ISA
Looking for a straightforward variable rate cash ISA that leaves you in control of your cash? Our Instant ISA may be the answer.
The account offers all the benefits of a simple tax-free savings account - including the flexibility to make lump sum deposits or save regularly - and you can open your cash ISA with as little as £1. The account gives you immediate access to your money, without notice or loss of interest, whenever you need it.
The Financial Services Authority is the independent financial services regulator. It requires us,
Leeds Building Society, to give you this important information to help you to decide whether our Instant ISA
is right for you. You should read this document carefully so that you understand what you are buying, and then
keep it safe for future reference.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | Instant ISA |
| Interest Rates (AERs) | See the "How much interest will I earn?" table below. |
| Tax Status | This is a tax-free account so interest payable is exempt from income tax. |
| Conditions for bonus payment | There is no bonus available on this account. |
| Withdrawal arrangements | You can make withdrawals whenever you choose, without notice or loss of interest, and your interest will continue to be paid tax free. |
| Access | Account can be opened and operated through any of our branches or by post. |
How much interest will I earn?
| Investment | Annual Interest % Tax-free§ p.a./AER† (Variable) |
|---|---|
| £1+ | 1.30 |
Interest rates effective from 22 October 2009
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £1 and the maximum investment and operating balance is £5,100 in the 2010/11 tax year (plus previous years' subscriptions whether held with the Society or another ISA provider).
When is interest paid?
Interest is paid annually on 5 April.
How is interest paid?
Interest is credited to the account.
Transfers in and out
To transfer an existing ISA from another ISA provider, simply complete the ISA transfer application form and we'll do the rest. Please note: HM Revenue & Customs guidelines state that the ISA provider has up to 30 days to complete the transfer. An Instant ISA can be transferred to another ISA provider without loss of interest.
Benefits of our ISAs
You can open your Leeds Building Society cash ISA with as little as £1 and add to it at any time, up to a maximum of £5,100 in any tax year. In subsequent years, you can invest up to the maximum subscription limit for that tax year (provided the product remains an open issue).
You can make withdrawals without notice or loss of interest and your interest will continue to be paid tax-free. Withdrawals can be made in person at any Society branch, or by writing to Investment Services, Leeds Building Society, 105 Albion Street, Leeds LS1 5AS.
Remember, if you make a withdrawal and have already subscribed the maximum amount in a particular tax year, you won’t be able to make any additional subscriptions in that tax year, as illustrated below:
| If you subscribe: | £2,000 | |
| Then withdraw: | £500 | |
| Your remaining limit is: | £3,100 | |
| Total subscription limit: | £5,100 |
