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Savings

Junior Cash ISA

This account might be right for you if you:

  • Have a lump sum of at least £10 to deposit
  • Want to save up to £9,000 per tax year interest free
  • Would like to save without withdrawing until you are aged 18

Summary

Interest rate
4.75% AER
Available to
Existing & New customers
Minimum initial deposit
£10
Interest
Paid annually

Key Product Information

Our Junior Cash ISA allows savings up to £9,000 per tax year, earning tax-free interest with no withdrawals until they reach the age of 18. Whatever their dreams for the future, the Junior Cash ISA is a great way to save.

From the start of the tax year, which begins on 6 April, they are able to utilise the Junior Cash ISA tax allowance for that year. Further details of the Junior Cash ISA tax allowance applicable at the current time can be found at www.gov.uk/junior-individual-savings-accounts.

What is the interest rate?

Annual interest

£1+     4.75% Gross¹/AER²

Interest is calculated daily and paid annually on 1 January each year.

Can Leek Building Society change the interest rates?

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.

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

Based on a deposit of £1,000 the estimated balance after 12 months is £1,047.50. 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.

How do I open my account?

The account can be opened in person at one of our branches or by post.

The account must be opened with a minimum deposit of at least £10.

Available to UK residents only.

Can I withdraw money?

Withdrawals and closure are not allowed until the named child reaches 18 or in the case of terminal illness or death.

Withdrawals will not be allowed without the passbook.

Additional information

Open to all UK residents up to the age of 18 years.

Transfers from Child Trust Funds accepted.

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 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.

Apply by post or in branch

You can apply for this account either by post or by visiting your local branch.

  • To open this account by post, please follow these simple steps:

    1. For your own benefit and protection, please read all the account terms and conditions carefully, then download and print the relevant application form below:

      Savings account application form

      ISA application form

      Application form for a child

      Junior ISA Application

    2. Please read the important information below before you open your account:

      FSCS Sheet

      Statement of practice investors

      Saving fees and charges

    3. Complete your savings application form and post it, along with your cheque deposit (made payable to the account holder) to:

      Savings Department, 50 St. Edward Street, Leek Staffordshire, ST13 5DL

       

  • To apply for this account in branch, get in touch and book an appointment with us.
     

    We may ask you to provide ID to confirm your name and address. To assist you, we try to verify this electronically. If we are unable to, we would require your paper documentation instead. For a full list of what documents are acceptable, please read our Proving your identity leaflet by clicking here.

    You will also need to bring a cheque or cash for at least the minimum investment to open the account.

How can we help you?

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.

For new savings account enquiries
0800 093 0002

Monday - Friday 9am - 5pm

For dedicated mortgages, savings, insurance and financial planning numbers, visit our contact hub here.

For all savings administration enquiries
0800 281 9308

Monday - Friday 9am - 5pm

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