Need help?
Save for their future with this easy access account, this account is available for 9-19 year olds. When they reach 20, they can simply transfer their money into another Leek Building Society savings account.
What is the interest rate?
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 £1,041.00. 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 £1. A maximum of £250,000 can be held in the account.
Available to UK residents only.
Can I withdraw money?
Withdrawals can be made subject to standard branch withdrawal limits.
Withdrawals will not be allowed without the passbook.
Additional information
Any accounts opened after 25 May 2018 can only be operated in the sole name of a child if the child is aged 13 years or above.
Available for children from the age of 9 years old to 19 years old.
When you become 20 years old, the Society will contact you and explain the options available and how you can transfer your account to a different account.
If no instructions are received the Society will automatically transfer the funds to a new Easy Access Pyramid Share account. The passbook for the new account will be available once acceptable identification has been provided.
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.
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.
To open this account by post, please follow these simple steps:
Leek Building Society received the award of Best Building Society 2023 at the British Bank Awards, sponsored by Smart Money People, on 11 May 2023.
Leek Building Society is a trading name of Leek United Building Society, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority with firm reference number 100014. Our details can be found on the Financial Services Register at https://register.fca.org.uk/s/. Leek United Building Society’s address for service is 50 St. Edward Street, Leek, Staffordshire ST13 5DL.
