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

Who they are

Leek Building Society - formally Leek United Building Society - is an independent mutual building society based in Leek, Staffordshire. It was established on 1 January 1863 as the Leek United Permanent Benefit Building Society. That makes it one of the older mutuals still operating in the UK today. As a mutual organisation, it is run for the benefit of members rather than shareholders. It is the 17th largest building society in the UK, based on total assets of £1,313.9m as at 31 December 2023.

The society has a reputation for old-fashioned, people-first service. On Smart Money People, its savings accounts are rated 4.92 out of 5 across more than 5,000 verified customer reviews. The word that comes up again and again is "friendly." That said, branch opening hours can be too limited for full-time workers , which is worth bearing in mind if you rely on in-person banking.

Savings accounts

Leek offers a small but practical range of savings products. All rates below are variable and correct as shown on this page - check the live figures for the current position.

The Regular Saver Account is the standout, paying 4.05% AER with a minimum deposit of just £1. You can make up to three withdrawals per year, which gives a bit of flexibility without turning it into a pure easy-access pot. The Junior Cash ISA comes in at 3.85% AER - competitive at the top of the market for children's tax-free savings, locked until the child turns 18. The 90 Day Notice Account pays 3.7% AER, a reasonable return in exchange for giving 90 days' notice before you withdraw. The Easy Access Saver, at 1.65% AER, is the most flexible option but the rate reflects that - it is not where Leek shines.

Every account on the DepositScout data starts from £1, so you do not need a lump sum to get going. Eligible depositors are protected up to £120,000 under FSCS rules - notably higher than the standard £85,000 limit that applies at most banks, because Leek holds a building society authorisation rather than a bank licence. This higher limit reflects the mutual's separate regulatory footing.

Applying and managing your account

All savings accounts can be opened in branch or by post, and some can be opened through Leek's online platform. Leek Online is designed to complement - not replace - branch service , so you get a choice rather than being forced down one channel. That said, some things - like ISA transfers and closures - still require a form by post or a branch visit, so it is worth reading the terms before you apply if you want everything managed digitally.

There are no switch offers currently listed for Leek Building Society.

Is it right for you?

Leek suits savers who value a well-established mutual, are comfortable with a branch-and-post model for certain tasks, and want genuinely competitive rates on notice or regular savings products. The Regular Saver and Junior Cash ISA rates are where the real value sits. If you need the absolute best easy-access rate, you may find sharper deals elsewhere.

As always, rates are variable and can change at any time. Use the live figures on this page to compare what Leek is offering right now against the rest of the market before you decide.