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Junior Saver

Instant access 3.35% Gross pa/AER

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  • Summary Back Copy 2
    • What is the interest rate?

      3.35% Gross PA/AER

      Interest is calculated daily and paid annually at 31st December into this account.

    • Can Buckinghamshire Building Society change the interest rate?

      Yes, interest rates are variable and we can change them at any time. Any changes will be made in accordance with Section 8 of our General Terms and Conditions which sets out when we can vary the interest rate and how and when we will notify you.

    • What would be the estimated balance after 12 months based on a deposit of £1,000?

      The estimated balance after 12 months based on a deposit of £1,000 would be £1,033.50.

      This estimation assumes that £1,000 is deposited on 1st January with no deposit or withdrawal transactions made and interest subsequently paid gross at 31st December.

      This projection is provided for illustrative purposes only and does not take into account your individual circumstances.

    • How do I open and manage my account?

      • You must be resident in the UK and under the age of 16.
      • You can open an account with a minimum of £1 and save up to £50,000.
      • For a child under 7 years old the account must be operated by an adult.
      • A child aged 7 or over can open and operate the account themselves.
      • A parent or guardian or other adult can open and operate this account on behalf of any child up to the age of 16.
      • You can make a cash deposit by visiting the branch, send a cheque made payable to the account holder or make a bank transfer.
      • Only one account per person is allowed in a single child’s name only.
      • We do not open accounts for any individual who has a foreign tax residency, even though they may also hold UK tax resident status.
    • Can I withdraw money?

      • Yes, you can take your money out at any time.
      • You can withdraw in cash at our branch, or by cheque or bank transfer by writing to us and sending your passbook.
      • Cash withdrawals are subject to a daily limit of £500 and £3,000 on 3 days notice.
    • Additional Information

      • Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. We will pay interest at the gross rate. It is your responsibility to declare any interest you earn to HMRC. The Society also has a legal obligation to supply HMRC with particulars of interest paid.
      • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
      • Basic rate taxpayers can earn up to £1,000 interest on savings tax free. Higher rate taxpayers can earn up to £500 interest on savings tax free. Additional rate taxpayers will pay tax on all savings interest earned.
      • We have no current plans to withdraw this product although it can be withdrawn without notice.
  • Important Information Back Copy 2

    You should read this information carefully in conjunction with our General Savings Terms and Conditions to ensure you understand them.

    As the child is the beneficial owner of the money in the account, we reserve the right to question if withdrawals are for the child’s benefit.

    Upon opening one of these accounts you will automatically become a member and be bound by the Society’s Rules, a copy of which is available on request.

    In order to keep your money safe from fraud, we will use a Financial Conduct Authority approved electronic system to verify your identity. We also require a photocopy of your identification documents (this does not need to be certified). Our identification leaflet details the documents you will need to provide.

    You can complete an application form by downloading it from the website or contact us and we will send you a form in the post. Please read and complete all sections of the form.

    The Society operates a 14 day cancellation period, so if you change your mind about opening an account you will receive back all your original capital plus any interest accrued.

    We have a complaints procedure designed to meet the Regulatory requirements, which we will provide on request or is available on our website www.bucksbs.co.uk. If you are unhappy with the way we have resolved your complaint you may be able to contact the Financial Ombudsman Service at www.financial–ombudsman.org.uk

  • How To Apply Back Copy 2

    Open an Account

    Download and complete the application form and return it to us by post or to the branch.

    Financial Services Compensation Scheme

    You must read the Information Sheet which gives all the details of the FSCS and how you are covered.

    The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that the FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. The FSCS is an independent body, set up under the Financial Services & Markets Act 2000 (FSMA).

    Verifying your Identity

    In order to help you to keep your money safe from fraud we verify the identity of all customers opening a new savings account including any adults signing on the account. Click here to see the list of required ID documents.

    • What is the interest rate?

      3.35% Gross PA/AER

      Interest is calculated daily and paid annually at 31st December into this account.

    • Can Buckinghamshire Building Society change the interest rate?

      Yes, interest rates are variable and we can change them at any time. Any changes will be made in accordance with Section 8 of our General Terms and Conditions which sets out when we can vary the interest rate and how and when we will notify you.

    • What would be the estimated balance after 12 months based on a deposit of £1,000?

      The estimated balance after 12 months based on a deposit of £1,000 would be £1,033.50.

      This estimation assumes that £1,000 is deposited on 1st January with no deposit or withdrawal transactions made and interest subsequently paid gross at 31st December.

      This projection is provided for illustrative purposes only and does not take into account your individual circumstances.

    • How do I open and manage my account?

      • You must be resident in the UK and under the age of 16.
      • You can open an account with a minimum of £1 and save up to £50,000.
      • For a child under 7 years old the account must be operated by an adult.
      • A child aged 7 or over can open and operate the account themselves.
      • A parent or guardian or other adult can open and operate this account on behalf of any child up to the age of 16.
      • You can make a cash deposit by visiting the branch, send a cheque made payable to the account holder or make a bank transfer.
      • Only one account per person is allowed in a single child’s name only.
      • We do not open accounts for any individual who has a foreign tax residency, even though they may also hold UK tax resident status.
    • Can I withdraw money?

      • Yes, you can take your money out at any time.
      • You can withdraw in cash at our branch, or by cheque or bank transfer by writing to us and sending your passbook.
      • Cash withdrawals are subject to a daily limit of £500 and £3,000 on 3 days notice.
    • Additional Information

      • Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. We will pay interest at the gross rate. It is your responsibility to declare any interest you earn to HMRC. The Society also has a legal obligation to supply HMRC with particulars of interest paid.
      • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
      • Basic rate taxpayers can earn up to £1,000 interest on savings tax free. Higher rate taxpayers can earn up to £500 interest on savings tax free. Additional rate taxpayers will pay tax on all savings interest earned.
      • We have no current plans to withdraw this product although it can be withdrawn without notice.
  • You should read this information carefully in conjunction with our General Savings Terms and Conditions to ensure you understand them.

    As the child is the beneficial owner of the money in the account, we reserve the right to question if withdrawals are for the child’s benefit.

    Upon opening one of these accounts you will automatically become a member and be bound by the Society’s Rules, a copy of which is available on request.

    In order to keep your money safe from fraud, we will use a Financial Conduct Authority approved electronic system to verify your identity. We also require a photocopy of your identification documents (this does not need to be certified). Our identification leaflet details the documents you will need to provide.

    You can complete an application form by downloading it from the website or contact us and we will send you a form in the post. Please read and complete all sections of the form.

    The Society operates a 14 day cancellation period, so if you change your mind about opening an account you will receive back all your original capital plus any interest accrued.

    We have a complaints procedure designed to meet the Regulatory requirements, which we will provide on request or is available on our website www.bucksbs.co.uk. If you are unhappy with the way we have resolved your complaint you may be able to contact the Financial Ombudsman Service at www.financial–ombudsman.org.uk

  • Open an Account

    Download and complete the application form and return it to us by post or to the branch.

    Financial Services Compensation Scheme

    You must read the Information Sheet which gives all the details of the FSCS and how you are covered.

    The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that the FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. The FSCS is an independent body, set up under the Financial Services & Markets Act 2000 (FSMA).

    Verifying your Identity

    In order to help you to keep your money safe from fraud we verify the identity of all customers opening a new savings account including any adults signing on the account. Click here to see the list of required ID documents.

Need some help?

Call us: 01494 879500  Email: info@bucksbs.co.uk  or visit our branch

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