Notices

Rate changes following Bank of England decision to decrease its Bank Rate by 0.25% to 4.75% on 7 November 2024. Find out more

Savings: Interest rates for Windfall Bond and Tracker Savings Bond will decrease by 0.25% from 1 December 2024. We will be writing to all customers individually to confirm the new rates.
Mortgages: Tracker mortgages will change on 25 December 2024 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage.
(Notice updated 08/11)
Online Service update. Due to planned essential maintenance, our Online Service will not be available between the hours of 8:00 am until 6:00 pm on the 15 December. We apologise for any inconvenience this may cause.

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.

Annual interest (AER gross)	Account rate type	Minimum opening amount	Additional information	Monthly interest option?	Withdrawal limits	Available to new customers?
4.25% to 4.50%	Variable	£1	Interest rates depend on balance Open and manage by post or in branch.	No	12 allowed annually.	Yes

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.

* 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 info downloads Request a callback

Account summary box

Account name

Junior Saver (2)

What is the interest rate?

Rate effective from 31 August 2023		Tax-free¹AER²
£3,000+		4.50%
£1+		4.25%
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 based on a £1,000 and £3,000 deposit?

Opening balance		Projected balance (Gross)
£3,000		£3,135.00
£1,000		£1,042.50
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
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

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.

¹Interest 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.