Leeds Building Society believe that young savers should be given the best start – and what better for Bradford City fans than a Junior Bantams Account.
The account offers a range of benefits, including a great interest rate, and access to your money. So why not open an account for your child and give them a great start?
Key Product Information for our Savings Account(s)
|Account Name||Junior Bantams Account|
|Interest Rates (AERs)||1.50% Gross§ p.a./AER† (variable)|
|Tax Status||The gross rate(s) of interest shown will be payable net of the appropriate rate of income tax (which may be reclaimed by non-taxpayers) or, subject to the required certification, gross. The tax treatment depends on the individual circumstances of each customer and may be subject to change in the future.|
|Conditions for bonus payment||There is no bonus available on this account.|
|Withdrawal arrangements||Account holders aged 12 to 17 - One withdrawal a
week of between £10 and £250 may be made and must be signed for by the account holder, subject to the
minimum operating balance of £10 being maintained. Withdrawals over £250 and additional withdrawals in
a week must be signed for by both the account holder and the authorised signatory.
Account holders under 12 - Unlimited withdrawals of £10 and over may be made without notice or loss of interest, subject to the minimum operating balance of £10 being maintained. All withdrawals must be signed for by the authorised signatory.
|Access||Account can be opened and operated through any of our branches or by post.|
Rates correct as at 1 July 2011.
The minimum investment and operating balance is £10 and the maximum investment and operating balance is £1,000,000, plus accrued interest credited to the account. In the event that the balance falls below the minimum operating balance, the basic investment rate of interest which is currently 0.05% Gross§ p.a./AER† (variable) shall apply.
Interest is paid annually on 30 June.
Interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society, provided any such account is in the name of the account holder.
When you reach 18 the account will mature. On maturity the Society will transfer your account to the Society's Bantams account or an instant access maturity account. We will write to you with full details nearer the time.
§ Gross means the rate of interest payable before the deduction of income tax at the rate specified by law. † AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.