Easy access
Leeds Building Society Savings accounts and rates
Leeds Building Society offers a broad range of savings accounts with interest rates up to 6.25%.
No reviews yet.
Write a review
Leeds Building Society is one of the largest financial services providers in the UK. It has more than 719,000 customers across the UK, and all together they hold £9.9 billion in savings balances. The society was registered as the Leeds and Holbeck (Permanent) Building Society in 1875, but in September 2005 it was renamed to Leeds Building Society.
It now offers a variety of saving plans, mortgages, life planning and insurance services. Continue reading to find out more.
Easy access savings accounts
Table: sorted by interest rate
Leeds Building Society's best easy access rate of 6.25% is lower than today's market-best rate of 8%.
Compare more instant and easy access accounts up to 8%
Cash ISAs
Table: sorted by interest rate
Leeds Building Society's best cash ISA rate of 5.5% is very slightly lower than today's market-best rate of 5.86%.
Compare more ISAs up to 5.86%
Fixed-rate bonds
Table: sorted by interest rate
Leeds Building Society's best fixed-rate bond rate of 5.5% is slightly lower than today's market-best rate of 6.2%.
Regular savings accounts
Table: sorted by interest rate
Leeds Building Society's best regular savings account rate of 5.25% is significantly lower than today's market-best rate of 8%.
Compare more regular savings accounts up to 8%
Overview of Leeds Building Society savings
| Savings account types include | Easy access, cash ISAs, fixed-rate bonds, regular savers |
|---|---|
| Best easy access rate | 6.25% |
| Best cash ISA rate | 5.5% |
| Best fixed-rate bond rate | 5.5% |
| Best regular saver rate | 5.25% |
| Fixed bond terms | 1 year 1 month - 2 years 1 month |
| Opening options | Branch, website, post |
| FSCS protection |
What is a 'account maturity'?
A fixed term savings account is one that pays interest at a fixed rate for a set amount of time, for example 2% for two years. After this time, the product comes to an end and you will no longer receive the interest rate that you have previously been receiving on your investment. When this happens it is called a ‘maturity’.
Is it easy to switch to Leeds Building Society?
Leeds Building Society make it very easy for customers to switch their savings accounts. With Leeds, you can open an account in branch, by post, over the phone or on the website.
All you need is a proof of ID and address, and the minimum deposit to open an account.
How do I decide which account is for me?
You need to work out what it is you need from your bank account. Are you looking to put a bit of money away each month? Do you want to put some money away and restrict access to it? Are you after rewards or hoping to maximise interest?
You need to work out what you need before comparing the different offers available for certain types of bank account. Once you’ve done that, useful guidelines to compare include:
- Interest rates
- Fees (if there are any)
- Access to cash (if you need quick access for instance)
- Rewards and loyalty schemes (if you’re into the add-ons or switching bonuses)
Does Leeds Building Society Offer online or mobile banking?
Yes. When you open an account you’ll be provided with credentials to log into your account. You can also open online savings accounts that can only be opened and operated online.
Here are some of the basic features of Leeds Building Society’s online banking service:
- View rates and current balances for all of your accounts
- View and print a transaction statement at any time.
- Request withdrawals or transfers between your accounts
- Open another account
- Set a savings goal to help you work towards a target
What is a 'building society'?
A building society is a financial institution owned by its members. They are called building societies because they were originally created in order to lend money for buying and improving properties. They offer banking, and related financial services, including mortgages and savings.
Whereas banks are normally listed on the stock market and run for their shareholders, building societies aren’t. Because they don’t have shareholders to pay, building societies have historically claimed to offer better interest and cheaper mortgage rates than banks.
Pros and cons of banking with Leeds Building Society?
Pros
- Better interest rates. Building societies don’t have shareholders to pay, and have usually claimed to offer better interest rates than banks.
- Flexibility. Leeds Building Society’s variety of accounts offers flexible options no matter what kind of savings you’re looking for.
- FSCS protection. With Leeds Building Society you have peace of mind that comes from knowing your money is protected up to a total of £85,000 by the UK’s deposit guarantee scheme.
- High street presence.If you like the assurance of a physical presence and prefer face-to-face customer service there are a number of physical branches in the UK.
Cons
- Customer service. Leeds Building Society’s customer service has had mixed reviews online. While reviews have a tendency to be anecdotal, it’s something to keep in mind.
Bottom line
Leeds Building Society savings accounts range from easy access and ISAs, to fixed term and savings for children, so you should be able to find one that suits your needs.
Be sure to check out our other reviews first, though, to see how Leeds Building Society’s accounts weigh up against the competition in terms of rates, fees and perks.
Savings ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our customer satisfaction scores ("Customers say") are based on a survey of 2,224 customers carried out in December 2022.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
More guides on Finder
-
Using Revolut abroad: Is it the right app to use?
Learn more about using Revolut abroad and if it is the right choice.
-
Using Monzo abroad: Is it the right app to use?
We look at how Monzo could benefit those travelling overseas.
-
Weekly share tips: Why Next is one to watch
Why George Sweeney believes Next is one to watch. This week’s share tip. Not financial advice or a recommendation.
-
Compare high street banks in the UK
If you don’t feel like you’re getting much from your bank account, switching has never been easier! Banks and building societies offer up cash and vouchers when you switch, and will handle the boring bits for you.
-
Compare switching deals in the UK
Compare features like cash incentives, overdrafts, interest rates and see if you’re getting the most from your current account.
-
Zebu Live 2023 takes centre stage during London Web3 Week
Zebu Live 2023 is returning to London this October as part of London Web3 Week. Get 25% off tickets with Finder.
-
5 steps to financial wellness
If your money habits are in need of a makeover, follow these 5 steps to help boost your financial wellness.
-
Winners of the Finder Investing & Saving Innovation Awards 2023 announced
Now in their fourth year, these awards recognise the investing and saving providers displaying the best innovations in their field.
-
The cheapest countries to study in Europe in 2023
Costs to study in Europe, when including tuition fees, rent and living costs, vary, but here are the cheapest countries for students.
-
Find out the winners of the Finder Investing & Saving Innovation Awards 2023!
The winners of the Finder Investing & Savings Innovation Awards and the inaugural People’s Choice Awards 2023 are revealed.
My 2-year fixed rate is due to mature on the 3rd of January. What can you offer me?
Hi Pearl,
Thanks for getting in touch with finder. I hope all is well with you. :)
If you’re referring to Leeds Building Society, you may check the items mentioned under the subheading, “What savings accounts does Leeds Building Society offer?” found above.
If you’re looking for other bank accounts, you may go to this page. On that page, you will see a table that allows you to conveniently compare your options based on their features and details. Once you found the right one for you, click on the “Go to site” green button to learn more or initiate your application.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua