Junior Saver (2)
An easy and flexible way of helping your children build up a pot of money for the future.
Your savings are protected.
Key features
View summary box- Apply for an account by post or at our Epsom branch
- Save from £1 up to £25,000
- One account can be opened per child
- Variable tiered interest rate to reward those who save more
- Interest paid annually on 31 January and added to the account
- Additions are allowed but not required on a regular basis
- Add to your savings* by transfer from your bank or building society account, by cheque or by transfer from another account with us
- Easy access to your savings with up to 12 withdrawals available per calendar year without an access charge
- Withdrawals will be paid by transfer to a designated bank account; either the child's bank account if they have one, or the trustee's bank account
- Passbook account
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* To send additional savings directly from your bank account the banking details you’ll need can be found on the back of your new account Certificate. Before you apply, please read the account summary box below. It is not intended to be a substitute for reading the Product Features leaflet and General Conditions for our Savings Account booklet. |
Account summary box
Account name
What is the interest rate?
| Rate effective from 31 August 2023 | Tax-free1AER2 | ||
| £3,000+ | 4.50% | ||
| £1+ | 4.25% | ||
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Can the Family Building Society change the interest rate?
What would the estimated balance be after 12 months based on a £1,000 and £3,000 deposit?
| Opening balance | Projected balance (Gross) | ||
| £3,000 | £3,135.00 | ||
| £1,000 | £1,042.50 | ||
| |||
How do I open and manage my account?
- The Junior Saver can be applied for by post or at our Epsom branch
- A minimum of £1 must be deposited
- It can be operated by phone, by post or at our Epsom branch
- The account is opened and operated on behalf of a child by a person with parental responsibility. A child can open and operate their own account from the age of eight
Can I withdraw money?
- There is a minimum withdrawal of £10
- Up to 12 withdrawals per year are allowed with no access charge. Please see the ‘Taking money out’ section of the Product Features leaflet for full information
How can I make deposits?
- A minimum of £1 must be deposited
- Variable tiered interest rate to reward those who save more
- Additions are allowed but not required on a regular basis
- Add to savings by transfer from your bank account, by cheque or by transfer from an existing savings account with us
Additional information
Interest is paid annually on 31 January. It will be added to your account and available from the following day.
1 Interest is paid tax-free as it is currently exempt from income tax. The future tax treatment of Individual Savings Accounts may vary.
2 AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.
All financial information correct on 18 August 2023.
Over 125 years looking after people's money
For a long time we've been trusted to help people save for homes, holidays & more with a more small scale, personal approach as shown in our awards.
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Contact our expert UK team
Existing customers
Savings - 03330 140144
savings.service@familybsoc.co.uk
Mortgages - 03330 140146
mortgage.service@familybsoc.co.uk
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Ashley Square, Epsom, Surrey, KT18 5DD.
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