More in this section

 

JUNIOR SAVER (2)

Our Junior Saver is an easy and flexible way of helping your children build up a pot of money for the future. If you have used your child’s junior cash ISA allowance, it’s somewhere to put aside spare cash or even pocket money on an ad hoc basis in an account which they could own and manage themselves.

The Junior Saver key features are:

  • Apply for an account by post or at our Epsom branch

  • Save from £1 up to £25,000
  • 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 account, by cheque and 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 your bank account

  • Passbook account

* 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.

The information provided is a summary of the key features of the account and is not intended to be a substitute for reading the Product Features leaflet and General Conditions for our Savings Accounts booklet.

Summary box

Account name

JUNIOR SAVER (2)

What is the interest rate?

Rate effective from 25 June 2020
Tax-free 1 AER 2 
£3,000+ 1.60%
£1,000+ 1.35%
£1+ 0.85%
  • Interest rates are dependent on balance amount
  • Interest is calculated daily and paid annually on 31 January

Can the Family Building Society change the interest rate?

Yes, the interest rate is variable and may be changed. Please refer to Section 14 of the General Conditions for our Savings Accounts booklet for more information on when we may make changes to the interest rate and how this will be communicated.

What would the estimated balance be after 12 months?

Opening balance Projected balance (Gross) 
£3,000  £3,048.00
£1,000 £1,013.50
  • These projections assume that the account is opened with the stated amount with no additions or withdrawals made. Projected balance is at the end of 12 months
  • All projections are provided for illustrative purposes only and do not take into account individual circumstances
  • Actual interest may depend on the date the account is opened and the date that interest is paid

How do I open and manage my account?

  • The Junior Saver can be applied for by post or at our Epsom branch
  • 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
  • A minimum of £1 must be deposited
  • Variable tiered interest rate to reward those who save more
  • Interest is 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 account, by cheque or by transfer from an existing savings account with us

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

Additional information

WITHDRAWALS BY CASH ARE NOT AVAILABLE
Interest is paid annually on 31 January. It will be added to your account and available from the following day
 

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 21 May 2020.

Request a pack
03330 140 141
SHARE THIS

Financial Services Compensation Scheme logo 1

                   
Family Building Society
Ebbisham House
30 Church Street
Epsom
Surrey KT17 4NL
Follow Us