Tailor made savings for a busy family life
It’s a fact of life that most of us have regular bills
to pay. So many in fact that it can give you
a headache just keeping tabs on
whether you have enough money
to pay them when they arrive!
How many times have you
wished that you’d set the
money aside to pay for
household bills, road fund tax
or car/home insurance?
Wouldn’t it be nice to easily keep
tabs on how much you have saved
for a child or grandchild’s birthday,
annual family holiday or even a wedding
that’s just around the corner, the list is endless!
How does the Family+ work?
You can name the Family+ Notice account whatever you like (i.e. water bill, holiday
fund) and choose the notice period you would like for withdrawals. Remember the
longer the notice period, the higher the interest rate you will receive. |
The account comprises of a Family+ Instant account linked to smaller Family+ Notice
accounts. The Family+ Instant account acts like any normal easy access savings
account which you would pay regular deposits into by standing order. All you have
to do is open the account with a minimum of £100 and make a minimum monthly
payment of £20 by standing order from a non-Leeds Building Society account into
your Family+ Instant account. From your Family+ Instant account you must make a
minimum of one monthly payment of £20 by standing order to a Family+ Notice
account of your choice. You can only make one payment into each Family+ Notice
account per month, But you can make as many payments as you like by cash,
cheque, standing order or transfer into the Family+ Instant account subject to a
maximum of £2,000 per month. |
Key features at a glance
- Minimum investment: Family+ Instant Account: £100 min. operating balance and
minimum £20 per month standing order from a non-Leeds
Building Society account.
Family+ Notice Account: £20 min operating balance and £20 per month minimum standing order from the Family+
Instant Account into each linked Family+ Notice Account.
- Maximum investment: Family+ Instant Account: £100,000 max operating balance
and £2000 per month from a non-Leeds Building Society
account.
Family+ Notice Account: £25,000 max. operating balance
and £2,000 per month maximum standing order from the
Family+ Instant Account into each linked Family+ Notice
Account. Only one payment per month allowed into each
Family+ Notice Account.
- When is interest paid? Annually on 1 September (commencing 1
September 2008)
- How is interest paid? Interest can be credited to the account or transferred either to another building society/bank account or to another account held with the Society.
- Deposits: One monthly standing order from a non-Leeds Building Society account must be made into the Family+ Instant Account. Further deposits can be made into the Family+ Instant Account
by cheque, cash, transfer or standing order at your local branch
or by post.
Deposits into the Family+ Notice Account must be
made by standing order from the Family+ Instant Account. No
further payments can be made.
- Withdrawals: The Family+ Instant Account provides instant access and
unlimited withdrawals can be made as long as the £100
minimum operating balance is maintained.
Withdrawals from
each Family+ Notice Account are determined by the notice
period you have chosen, either 30, 60, 90 or 365 days or are
subject to 30, 60, 90 or 365 days loss of interest on amount
withdrawn. Withdrawals are subject to the minimum balance
of £20 being maintained. Contact your branch to make a
withdrawal request.
How much interest will I earn?
Important notes
§ Gross means the rate payable before the deduction of tax .
† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Investments in this account will represent shares in the Society and are subject to the Rules of the Society. Member of the Building Societies’ Association. Leeds Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the Scheme are limited to a maximum payment of £35,000, that is 100% of the first £35,000 of an investor’s total shares and/or deposits in a society. Most investors are covered, including individuals and small firms. A small number of categories of shares and deposits are not covered, for example deferred shares – permanent interest bearing shares. Although most shares are denominated in sterling, all other currencies are covered. Further details are available on request from the Society. Leeds Building Society is authorised and regulated by the Financial Services Authority.
Leeds Building Society subscribes to the Banking Code which sets out standards of good banking practice for banks and building societies. Details of the Code are available at www.bankingcode.co.uk or in the leaflet "The Banking Code" published by the BBA/BSA. The Society is covered by the Financial Ombudsman Service. Leeds Building Society offers some investment products that may be operated through branches and by post and certain products which can be operated by post only.
The Society’s FSA registration number is 164992.
Other taxes or costs may exist that are not paid by Leeds Building Society.
