A largely uneventful first half saw Lee Steele give Leamington a 38th minute lead.
United responded well in the second half and got a deserved equaliser on 53 minutes when Ricky Johnson headed in a right hand side corner at the near post.
Both sides had chances to win the game. Andy Kemp brought off a couple of excellent saves to keep Banbury level, whilst Banbury created some chances of their own.
Match Report will follow tomorrow
With Swindon Supermarine losing at home to Barwell, Banbury's chances of remaining in the Premier Division have improved considerably.
Cirencester Town are already relegated. Due to Banbury having a far superior goal difference to both Evesham United and Swindon Supermarine, then eventhough those two clubs can finish level on points with Banbury, realistically they cannot finish above Banbury in the table. Hemel Hempstead Town can however overtake Banbury if they win their last two games. All Banbury eyes will therefore be on how they get on at home to Oxford City on Monday night
Banbury United: Andy Kemp, Joe Coleman, Tommy Kinch, Liam Dolman, Ben Thackeray, Ryan Howell, Danny Edmond (Dior Angus 46), Josh Cole, Ricky Johnson, Josh Blake (Howard Forinton 90), Ben Polk. Subs (not used) Liam Richardson, Joe Eyre, Nick Kingston.
Leamington: Nathan Vaughan, James Mace, Asa Charlton, Neil Barnfield, Jamie Hood, Liam Daly, Alex Taylor, Craig Owen (Matt Dodd 74), Jacob Blyth, Lee Steele (David Kolodynski 74), Lee Chilton. Subs (not used): Michael Tuohy, James Husband, Ian King.
Attendance 564