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Junior Saver

Start saving for their future with a Junior Saver account. Open with just £1, a great way to encourage a savings habit.  Currently restricted to young people who live, work or study in Bath, or whose parents, grandparents or legal guardian have been a Bath Building Society customer for at least the past 12 months. Find out more and apply online.

Interest rate
(AER) i
Variable/Fixed iMin/Max amount iWithdrawals i
£1 - £5,000
From July 01, 2022
£5,000 +
Variable£1 - £100,000Yes and without penalty

Suitable for savers who:

  • live, work or study in Bath, or the parent, grandparent or guardian has been a Bath Building Society customer for at least the last 12 months
  • want to start saving for a child’s future
  • want to save as little or as much as they can each month
  • want unlimited access to their savings
  • want to manage the account online, by phone or in our Branches

Not for savers who:

  • are looking for an account for someone who is 18 years or over
  • are looking for a fixed interest rate

Summary Box

Key Product Information

What is the interest rate?

  • £1 – £5,000 2.35 % AER.
  • £5,000+ 0.00% AER.
  • From July 01, 2022
  • £1 – £5,000 2.50 % AER.
  • £5,000+ 0.00% AER.
  • Interest is calculated on a daily basis and will be credited to the account annually on 31st December.
  • Interest can be transferred into another Bath Building Society account, or paid by faster payment into a nominated account if preferred.
  • Maximum balance £100,000 (for any balances held in excess of £5,000, 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 a £1,000 deposit?

  • Based on the current rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1,023.50.
  • This figure is only an estimate, based on there being 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 an account, simply apply online below or pop in to any Branch or Agency.
  • Available for UK residents only under the age of 18.
  • Applicants must either be able to evidence that they live, work or study in Bath, or be the child or grandchild of an existing Bath Building Society customer who has held a mortgage or savings account with Bath Building Society for at least the last 12 months.
  • An adult must operate the account for children under seven.
  • For children aged seven or over, instructions can be given for either the child and/or an adult to sign.
  • Minimum opening balance £1.
  • 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 including under 18s.
  • A passbook is issued with this account.
  • It is also possible to view all the accounts you hold with Bath Building Society by registering for Bath Online.

Can I withdraw money?

  • Funds are available on request and without penalty.
  • Maximum cash withdrawal on demand £500 per day.
  • Maximum cheque withdrawal on demand is £50,000 (or the savings account maximum) at a Branch and £15,000 through an Agency office.
  • Alternatively, withdrawals can be made direct to a designated UK bank account by next day faster payment.
  • All withdrawals must benefit the child. Our staff will ask for proof that the funds are being withdrawn for this reason if it is not obvious from the transaction. Please do not be offended if you are asked to prove the purpose of any withdrawal. Please note that in some circumstances the Society may refuse to complete a transaction if we are unsure if the funds are being used for the benefit of the child.
  • For all withdrawals by post, the cheque will be made payable to the child.

Additional information

  • On reaching the age of 18, 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.
  • Only one Junior Saver account can be held by each child.
  • Applicants are asked to confirm that they have read the FSCS Information and Exclusions sheet.
  • 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.
  • 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.
  • 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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