Homestart regular saver

Designed specifically for 18-27 year olds living, working or studying in Bath, who are looking to save between £50 and £150 each month (for example for a deposit on a home) and rarely need access to these funds. Saving into this account for a qualifying period of at least 12 months, you will benefit from a competitive interest rate and, if you take out a mortgage with us, 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 below.

Summary Box
Key Product Information

What is the interest rate?

  •     1.35% gross, 1.35% 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 General Terms and Conditions Leaflet, under section 7.

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 £604.41.

  • This figure assumes an initial deposit of £50 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 your account. This figure is for illustrative purposes only.

How do I open and manage my account?

  • To open an account, simply complete an application form, available from any branch, agency office, or by contacting our Customer Support Department. Alternatively, the form can be downloaded from our website.

  • Minimum opening balance £50

  • Maximum opening balance £150

  • Minimum operating balance £1

  • A credit of between £50-£150 must be deposited into this account every calendar month.

  • If no credit is received or credits in excess of £150 for two consecutive months are received, Bath Building Society reserves the right to transfer the account to our Instant Access savings account.

  • Maximum balance £20,000 (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.

  • It is also possible to manage all the accounts you hold with Bath Building Society by registering for Bath Online through our website,

Can I withdraw money?

  • Only 1 permitted withdrawal 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 18 and 27 years old.

  • Applicants must be able to evidence that they live, work or study in Bath.

  • Only one Homestart Regular Saver can be opened by any individual at one time.

  • Only one Homestart Regular Saver per customer per lifetime.

  • Customers who have had this account for at least 12 months and credited between £50 and £150 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 30th 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 28 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.

  • Applicants are asked to confirm that they have read the FSCS information and exclusion sheet.

  • This is a summary of the key features of the account. You should read both the Savings Accounts and General Terms and Conditions leaflets 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 isn’t a Payment Account for the purposes of the Payment Services Regulations 2017.

Version: January 2021

Further Information