Secure Online Services
Savings & Investments
Online ISA
Watch your savings grow over the Internet with our online individual savings account.
Online ISA is a simple tax-free savings account, ideal if you want the flexibility to make lump sum deposits or save regularly and still have access to your money.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | Online 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 to your Nominated Accounts without notice or loss of interest, subject to the minimum operating balance of £10
being maintained. If the account balance falls below £10 at any time the account will be closed. Cash and cheque transactions are not permitted (except for your initial investment which must be made by cheque). When money is paid into your account, provided the payment is received by us between 7am and 7pm, you will be able to withdraw the funds that day. Withdrawals to your Nominated Accounts made before 8pm on a working day will be available to the payee on the next working day. |
| Access | Account can only be opened and operated online only. |
Rates correct as at 6 April 2012.
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £10 and the maximum investment is £5,640 in 2012/13 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 be either added 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, you will need to contact your new ISA manager and complete their transfer request form. Partial transfers of current years subscriptions are not permitted under the ISA Regulations. 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 Online ISA with as little as £10 and add to it at any time, up to a maximum of £5,640 in the 2012/13 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.
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: | £3,640 | |
| Total subscription limit: | £5,640 |
Please note that the Leeds Building Society online savings service will be unavailable each day for 1 hour between 12 midnight and 1am, while our systems update.
