Leeds B.S - Members Loyalty Bond - 2014

bristolleedsfan

T+C - Self Explanatory


http://www.leedsbuildingsociety.co.uk/savings/member-loyalty-bond.html

Ifts

Thanks for posting.

Good for existing customers of Leeds BS, it beats other 3 year fixed rate savings bonds: http://moneyfacts.co.uk/savings/3-year-fixed-rate-bonds/

and the withdrawal arrangements are an added bonus:

Access is limited to withdrawals of up to 50% of your capital investment without notice or loss of interest, prior to maturity (30 April 2017) subject to the minimum balance of £100 being maintained. Closure of the account or further withdrawals are not permitted until the day after maturity.

bristolleedsfan

Also a Childrens Version -


http://www.leedsbuildingsociety.co.uk/savings/rates-children.html

2010

Good bond at 2.75% if you meet the criteria, three years is a long time to fix but at least you can get half out at anytime.
Limited to £20k each.

veryintrigued

2010 wrote: »

Good bond at 2.75% if you meet the criteria, three years is a long time to fix but at least you can get half out at anytime.
Limited to £20k each.

Thanks to the OP for posting.

Couldnt agree more with the above too. Crazy that we're thinking of fixing at 2.75%!

Further question on the T&Cs - its seems eligibility is being a member since NYE 2013. Presumably if the accounts which 'make you are member' are closed (thinking specifically of an ISA close to dropping) within the 3 years you are still a member by fact you have this bond?

I'm overthinking this arent I?

bristolleedsfan

veryintrigued wrote: »

Presumably if the accounts which 'make you are member' are closed (thinking specifically of an ISA close to dropping) within the 3 years you are still a member by fact you have this bond?

QUOTE]





Yes.

alanq

2010 wrote: »

Good bond at 2.75% if you meet the criteria, three years is a long time to fix but at least you can get half out at anytime.

If one thinks of it as half ones funds on instant access paying 1.50% and half in a 3-year no access bond paying 4.00% this bond looks even more competitive.

veryintrigued

veryintrigued wrote: »

Thanks to the OP for posting.

Couldnt agree more with the above too. Crazy that we're thinking of fixing at 2.75%!

Further question on the T&Cs - its seems eligibility is being a member since NYE 2013. Presumably if the accounts which 'make you are member' are closed (thinking specifically of an ISA close to dropping) within the 3 years you are still a member by fact you have this bond?

I'm overthinking this arent I?

Close to sending off the cheque for this but noticed this:

Please note: The account is only available to existing members who were members at 31 December 2013, and who continue to be members. This fixed rate account is a limited issue and may be withdrawn without notice. Additional funds may be invested whilst the issue remains open for further investment.

http://www.leedsbuildingsociety.co.uk/savings/rates-notice-bonds.html

The bit in bold infers that this bond doesnt (alone) constitute you being a member - thoughts please?

i.e. I dont want to open this account, then subsequently close the only (other) account I have with LBS only for them to push me away.

Ifts

veryintrigued wrote: »

The bit in bold infers that this bond doesnt (alone) constitute you being a member - thoughts please?

The way I read it was - they put the bit about being a LBS member at 31 December 2013 to stop people opening a new account now to benefit from this new savings bond.
If they had not put the bit about being a member at 31 Dec 2013 there would have been nothing to stop someone becoming a member one day by opening a normal account with them and then the next day applying for this savings bond.

i.e. I dont want to open this account, then subsequently close the only (other) account I have with LBS only for them to push me away.

Give them a call to double check what I wrote above, if its not as I read it - could you not keep this other account that you got with LBS open with minimum balance in it?

Vortigern

veryintrigued wrote: »

Please note: The account is only available to existing members who were members at 31 December 2013, and who continue to be members.

The bit in bold infers that this bond doesnt (alone) constitute you being a member

It doesn't infer (or even imply) anything about membership.

From the society's General Terms and Conditions:

3.1 Unless the Product Terms and Conditions provide otherwise or you are not eligible for membership, your Account is a share account. This means that you will become a shareholding member of the Society through holding the Account.

The terms for the member loyalty account do not "provide otherwise" so this account will preserve your membership.

The account terms say:

4. The Member Loyalty Bond (2014) is only available to existing members who were members at 31 December 2013 and continue to be a member at the date of account opening.

Clear enough?

Ifts

The account is only available to existing members who were members at 31 December 2013, and continue to be members, and is our way of saying THANK YOU for being a loyal Leeds Building Society member.

http://www.leedsbuildingsociety.co.uk/_resources/pdfs/savings-pdfs/member-loyalty-bond.pdf

veryintrigued - Its OK for you to go for this Member Loyalty Bond now and if you do close the ISA with them afterwards they wont push you away.