This account might be right for you if you:
Give your child a head start in their financial future with a Humphrey Club Savings Account for children aged 0-9.
The interest rate on this account is variable.
Leek Building Society has the right to change interest rates in certain circumstances. Please see the Society's Statement of Practice Investors leaflet which provides further information on these circumstances.
Based on a deposit of £1,000 the estimated balance after 12 months is £1,041.43. This projection assumes that the amount of £1,000 is deposited in the account at the time it is opened and that no further deposits or withdrawals are made for the full interest period.
This projection is provided for illustration purposes only.
The account can be opened in person at one of our branches or via post.
The account must be opened with a minimum deposit of at least £1. A maximum of £250,000 can be held in the account.
Available to UK residents only.
Withdrawals can be made subject to standard branch withdrawal limits.
Withdrawals will not be allowed without the passbook.
Any account opened after 25 May 2018 cannot be operated in the sole name of a child aged 13 years or above.
Available for children up to the age of 9 years old. If the account is in the sole name of the young saver rather than a trustee, the Society will not allow any withdrawals unless it is satisfied the young saver is capable of understanding the transaction.
When the young saver reaches the age of 18, the Society will write to the saver and arrange for the balance to be transferred to another suitable savings account. If no instructions are received the Society will automatically transfer the funds to an Easy Access Pyramid Share account.
When the young saver reaches the age of 13, the trustee can ask to be removed from the account and the young saver can operate the account in sole name from this point.
The above rates are applicable from 1 October 2023.
¹ Gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
² AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
In some circumstances, customers will be required to pay tax on interest earned. Please contact HM Revenue & Customs for further information or view their website.
The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.
You can apply for this account either by post or by visiting your local branch.
We're always happy to help you, whatever your query. You can contact us via phone, online enquiry or pop into any of our branches.
Monday - Friday 9am - 5pm
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