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16-25 Regular Saver

It’s important to us to help young people in our local community to develop a savings habit. So we’re offering a 4% interest rate to anyone aged between 16-25 who lives, works or studies in Bath and can save between £10 and £50 a month. Find out more and apply online below.

Interest rate
(AER) i
Variable/Fixed i Min/Max amount i Withdrawals i
£1 - £7,000
Variable £10 - £7,000 Only 2 permitted withdrawals per calendar year.

Suitable for savers who:

  • want to start a savings habit
  • are prepared to save between £10-£50 each month
  • Live, work or study in Bath, or are an existing savings or mortgage customer who has held a Bath Building Society account for at least the last 12 months
  • want to manage the account online, by phone or in our Branches and Agencies
  • are aged between 16 and 25 years

Not for savers who:

  • want to make more than two withdrawals a year
  • want to deposit a lump sum
  • want a fixed rate of interest

Summary Box

Key Product Information

What is the interest rate?

  • 4.00% gross, 4.00% AER.
  • Interest is calculated on a daily basis and will be credited to the account on the 31st December annually.
  • Interest can be transferred into another Bath Building Society account or paid by faster payment into a nominated account if preferred.

Can Bath Building Society change the interest rate?

  • The interest rate is variable which means we may change it to respond to changes in the Bank of England base rate or changes in law, to meet relevant regulatory requirements, or to respond to changes to codes of practice or changes in our costs.
  • We will give you 30 days’ notice in writing before any reduction to the rate is applied.
  • Full details of the reasons why we may change your interest rate can be found in the Terms and Conditions brochure.

What would the estimated balance be after 12 months based on depositing £10 every month?

  • In this example, if you saved £10 per month in the 16-25 Regular Saver account, the estimated balance after 12 months would be £122.61.
  • This figure assumes an initial deposit of £10 was made on 1st January 2021 and all 11 subsequent deposits are made on the first day of each month. It also assumes no additional deposits, withdrawals or rate changes in that time with all interest being added to you account. This figure is for illustrative purposes only.

How do I open and manage my account?

  • To open an account, simply apply online or pop in to any Branch or Agency.
  • Applicants must be able to evidence that they live, work or study in Bath, or that they are an existing Bath Building Society customer who has held a mortgage or savings account for at least the last 12 months
  • Identification will be required for all signatories. This is usually obtained through our electronic identity verification service. However, if this proves inconclusive, here’s some popular ways to verify your ID.
  • Minimum opening balance £10.
  • Maximum opening balance £50.
  • Minimum operating balance £1.
  • A credit of between £10-£50 must be deposited into this account every calendar month.
  • If no credit is received or credits in excess of £50 for two consecutive months are received, Bath Building Society reserves the right to transfer the account to our Instant Access savings account.
  • Maximum balance £7,000.00 (for any balances held in excess of this level, an interest rate of 0.00% gross will be paid).
  • Transfers from other Bath Building Society accounts are not allowed.
  • A passbook is issued with this account.
  • You can manage all the accounts you hold with Bath Building Society by registering for Bath Online.

Can I withdraw money?

  • Only 2 permitted withdrawals per calendar year. Bath Building Society reserves the right to transfer the account into an Instant account if this is exceeded.
  • Maximum cash withdrawal on demand £500 per day.
  • Alternatively, withdrawals can be made direct to a designated UK bank account by next day faster payment.

Additional information

  • Available for UK residents only, applicants must be aged between 16 and 25 years old.
  • Applicants must be able to evidence that they live, work or study in Bath.
  • Only one 16-25 Regular Saver account can be opened by any individual at one time.
  • On reaching the age of 26 the account automatically transfers into an Instant Access account. Customers will be contacted at least 14 days before this date and provided with re-investment options and details of the current terms and interest rate of the Instant Access account.
  • This account can be withdrawn from availability to new customers by Bath Building Society at any time and without notice.
  • This account is a savings account and must not be used for multiple monthly transactions like a current account. It isn’t a Payment Account for the purposes of the Payment Services Regulations 2017.

Important information before you apply

Before you apply please read our terms and conditions document and FSCS information sheet alongside the key product information above to understand how this account works.

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