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Homestart Regular Saver

Designed specifically for 18-34 year olds who are looking to save for their first home, saving between £50 and £250 each month (for example for a deposit on a home) and rarely need access to these funds. Saving into this Homestart regular saver account for a qualifying period of at least 12 months, if you take out a mortgage with us, you will benefit from no arrangement fee and £500 cash back. As a result of the restricted number of withdrawals, the account pays a higher rate of interest than an Instant Access account. Find out more and apply online below.

Interest rate
(AER) i
Variable/Fixed iMin/Max amount iWithdrawals i
£1 - £57,000
Variable£1 - £57,000Only 2 permitted withdrawals per calendar year.

Suitable for savers who:

  • want to regularly save for a deposit for their first home
  • are prepared to save between £50-£250 each month
  • want to benefit from free arrangement fee and £500 cash back on completion of a Bath Building Society mortgage
  • are aged between 18-34 years
  • want to manage the account online, by phone or in our Branches

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
  • don’t have plans to purchase a property before their 35th birthday

Summary Box

Key Product Information

What is the interest rate?

  • 2.05% gross, 2.05% AER.
  • £57,000+ 0.00% AER.
  • Interest is calculated on a daily basis and will be credited to the account on the 31st December annually.
  • Alternatively, interest can be transferred into another Bath Building Society account or paid by faster payment into a nominated account if preferred.
  • Maximum balance £57,000.00 (for any balances held in excess of this level, an interest rate of 0.00% gross will be paid).
  • *AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

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 regulatory requirements, or to respond to changes to codes of practice or changes to 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 Welcome to your Bath Building Society Account brochure.

What would the estimated balance be after 12 months based on depositing £50 every month?

  • In this example, if you saved £50 per month in the Homestart Regular Saver account, the estimated balance after 12 months would be £606.69.
  • These figures assumes an initial deposit of £50 was made on 1st January 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 your account. This figure is for illustrative purposes only.

How do I open and manage my account?

  • To open a Homestart regular saver account, simply apply online below or pop in to any Branch.
  • 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 £50.
  • Maximum opening balance £250.
  • Minimum operating balance £1.
  • A credit of between £50-£250 must be deposited into this account every calendar month.
  • If no credit is received, or credits in excess of £250 for two consecutive months are received, Bath Building Society reserves the right to transfer the account to our Instant Access savings account.
  • Transfers from other Bath Building Society accounts are not allowed.
  • A passbook is issued with this account.
  • It is also possible to 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 Access 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 over 18 and apply before their 35th birthday.
  • Applicants are asked to confirm that they have read the FSCS Information and Exclusions sheet.
  • Only one Homestart Regular Saver can be opened by any individual at one time. If the terms and conditions of this account are not met, then you will not be permitted to open another Homestart Regular Saver for a further 12 months.
  • Customers who have had this account for at least 12 months and credited between £50 and £250 per month will be eligible for a free arrangement fee and £500 cashback on completion of a Residential Bath Building Society mortgage.
  • Mortgage valuation, administration and completion fees will apply.
  • This offer is only available on standard residential mortgages in the UK (i.e not for buy to let mortgages).
  • Mortgage offer will be subject to satisfactory credit searches and affordability checks and subject to satisfactory valuation.
  • The offer must be used within 2 years of the end of the product term (i.e before the customer’s 37th birthday) or after closure of the account.
  • Cashback will be made directly to a designated UK bank account by next day faster payment.
  • On reaching the age of 35 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 is limited issue and can be withdrawn without notice.
  • This is a summary of the key features of the account. You should read the Welcome to your Bath Building Society Account brochure to ensure you fully understand how your account works
  • This account is a savings account and must not be used for multiple monthly transactions like a current account. It is not a Payment Account for the purposes of the Payment Services Regulations 2017.
  • We reserve the right to close an account where a customer behaves inappropriately when using our services. For example, where a customer has used abusive language.

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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