Savings Interest Rates, Switch Offers and Guides for Leeds Building Society

Who they are

Leeds Building Society is a British building society based in Leeds, West Yorkshire. Its origins can be traced back to 1845, when a group of people formed the Leeds Union Operative Land and Building Society. It has been a mutual right from the very beginning - meaning it is owned by its members, not shareholders, and exists to serve them rather than generate profit for outside investors. Today it serves close to a million members across the UK and holds over £31.6 billion in assets, making it the fifth largest building society in the country.

It is worth noting that Leeds Building Society should not be confused with the old Leeds Permanent Building Society, a separate institution that merged with Halifax in 1995. In 2005, Leeds and Holbeck Building Society simply dropped the "and Holbeck" from its name and rebranded as Leeds Building Society.

Savings accounts

Leeds offers a small but reasonably well-structured range of savings accounts, with all deposits protected up to £120,000 by the FSCS - that is higher than the standard £85,000 limit you see at most UK banks, which reflects the fact that building societies hold deposits under a separate licence.

The headline rate sits with the Regular Saver at 4.45% variable, though you will need at least £100 to open it and are limited to one withdrawal per year - so it suits people who can genuinely leave money alone. For easy access without any withdrawal restrictions, the Online Access Saver pays 4.20% variable on a minimum £1,000 balance, and the Online Access Cash ISA pays 4.16% variable on the same minimum. Both are solid options if you want flexibility alongside a competitive rate.

If you can live with a touch more structure, the 1 Year Double Access Saver allows two withdrawals per calendar year and pays 3.65% variable. The E-Saver and E-ISA - both variable rate accounts - sit at 1.45%, so it is worth checking whether you are sitting in one of these older issues without realising it.

Is it right for you?

Leeds Building Society tends to suit savers who value the mutual ethos and want a relationship with a long-established institution rather than a purely digital challenger. Customers consistently report positive experiences with staff who go above and beyond, and many note how smoothly transactions and enquiries are handled. That said, some reviewers have found the website design less intuitive than they would like , so if a slick app is your priority, it is worth bearing that in mind.

There are no current account switch offers in the data shown here. Leeds is a savings and mortgage specialist, not a current account provider, so if you are looking purely to switch your day-to-day banking, this is not the right place.

As always, the rates shown on this page are the live figures - check them before you apply, as variable rates can move at any time.