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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.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | Instant ISA |
| Interest Rates (AERs) | 1.30% Tax-free§ p.a./AER† (Variable) |
| 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 | Unlimited withdrawals can be made without notice or loss of interest, subject to the minimum operating balance of £1 being maintained. |
| Access | Account can be opened and operated through any of our branches or by post. |
Rates correct as at 20 June 2011.
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £1 and the maximum investment is £5,340 in 2011/12 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 can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society.
Transfers
To transfer all or part of your existing ISA from another ISA manager, simply complete the ISA Transfer Request Form and Cash ISA Application Form (if required) and we’ll do the rest. If you wish to transfer all or part of your cash ISA to another ISA manager prior to the maturity date, you will need to contact your new ISA manager and complete their transfer request form. Please note HM Revenue and Customs guidelines state that an ISA transfer must be completed within 15 working days of receipt of an instruction from you. For further details, please see conditions 9 and 11 of the product Terms and Conditions. View the ISA Transfer Guidance PDF document »
Benefits of our ISAs
You can open your Leeds Building Society Instant ISA with as little as £1 and add to it at any time, up to a maximum of £5,340 in the 2011/2012 tax year. Further subscriptions in future tax years may be made up to the applicable cash ISA subscription limit in any tax year and you may transfer in previous years' subscriptions (provided the product remains an open issue).
You can also relax in the knowledge that you’ll have immediate access to your money, without notice or loss of interest, whenever you need it. 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 Leeds Building Society branch or by writing to Customer 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: | £3,340 | |
| Total subscription limit: | £5,340 |
