Notices

Savings customers - the interest rates on many of our variable rate savings products will be decreasing from 6 January 2025. Find out more

We will be emailing or writing to you shortly to let you know of how these decreases affect you. In the meantime, you can see all of these changes here.
Mortgage customers - our Managed Mortgage Rate (MMR) will decrease by 0.25% from 20 January 2025. Find out more:

From 20 January 2025, we'll be decreasing our Managed Mortgage Rates (MMR) by 0.25%. All on-sale discounted variable product rates and other details, including representative examples displayed on our website, have been updated to reflect these lower rates.
We will be writing to existing customers who have been impacted by this change, shortly, with details relevant to them.
View our Christmas opening hours here. For information on bank transfer processing times over the Christmas period please click here.
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)

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		Gross AER¹
£3,000+		4.50%
£1+		4.25%
Rate effective from 6 January 2025		Gross AER¹
£3,000+		4.25%
£1+		4.00%
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
You can open an account as a trustee on behalf of a child of any age. Trustees must be close family members such as a parents, adult siblings, parents siblings (aunts or uncles) or grandparents.

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

TAX STATUS: Interest is paid gross without deduction of income tax. You will need to declare any income from savings interest earned over your PSA² through a self-assessment tax return to HM Revenue & Customs. Interest is paid annually on 31 January and available the following day.

¹AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.
²PSA stands for Personal Savings Allowance

All financial information correct on 13 December 2024.