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The Junior Saver is a flexible and easy way for your youngster to think about saving and practice managing an account for themselves; offering one way to help them understand that the ‘Bank of Mum and Dad’ is finite.

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 below 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


What is the interest rate?

Rate effective from 11 September 2018

Gross AER1

£3,000+ 2.25%
£1,000+ 2.00%
£1+ 1.50%
  • 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  £3,067.50
 £1,000  £1,020.00
  • 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
  • The account is opened and operated on behalf of a child by a person with parental responsibility. From the age of eight a child can open and operate their own account
  • A minimum of £1 must be deposited
  • Additions are allowed but not required on a regular basis
  • Additions to the account can be made by transfer from your bank account, by cheque or by transfer from an existing account with us
  • A maximum of £25,000 may be held in the account
  • Instructions for the account can be made by phone, by post or at our Epsom branch

Can I withdraw money?

  • Up to 12 withdrawals are permitted per calendar year with a minimum withdrawal of £10, and can be paid by transfer to your bank account, by cheque or by transfer to another account with us

Please see the 'Taking money out' section of the Product Features leaflet for full information

Additional information

TAX STATUS: Interest is paid gross without deduction of income tax. You will need to declare any income from savings interest earned over your PSAthrough a self-assessment tax return to HM Revenue & Customs. Interest is paid annually on 31 January and available the following day


This issue may be withdrawn at any time without prior notice.

1AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.

PSA stands for Personal Savings Allowance 

We don’t deduct any tax from the interest payments we make to you, so you need to be aware of your PSA limit, and your children(s) limit(s), as you’ll be responsible for paying any tax owed to HM Revenue & Customs (HMRC). For example, tax would apply to our Junior Saver accounts if a child gets more than £100 in interest from money given by a parent.

The £100 limit doesn’t apply to money:

  • given by grandparents, relatives or friends
  • in a Junior ISA or Child Trust Fund

The future tax treatment of Individual Savings Accounts may vary. For further details on any potential tax implications for your children’s savings, please visit the HM Revenue & Customs (HMRC) website.

The tax year runs from 6 April to 5 April each year.

All financial information correct on 11 September 2018.

You can apply in our branch or call us to request an application in the post.  

request a pack

03330 140 141

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If you prefer access to be limited until their 18th birthday, our Cash Junior ISA offers savings for children of up to £4,080 a year tax-free. 

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