The Earl Shilton Building Society

Types of Young Savers Accounts:

• Child Trust Fund Account
• Foundation Account
• Early Saver Account
• Junior Cash ISA

• Cash Savings Account (Non-Stakeholder)
• Stakeholder Account (In conjunction with Kingston Unity Friendly Society)

• Tax free saving
• No withdrawals until the child reaches 18
• Save up to £3,720 each year until the child reaches 18. Subscriptions can be made by family and friends, even without the passbook.
• The Child Trust Fund will be in the beneficial ownership of the child
• Accounts can only be opened with the Child Trust Fund voucher from HM Revenue & Customs by an individual aged 16 or over who has parental responsibility for the child.
• Interest is calculated daily and is variable. Interest is compounded annually on the child's birthday. An annual statement will be issued.
• Stakeholder accounts must conform to a set of voluntary standards for deposit products set by the Government relating to charges, access and terms of the account. Our cash based Child Trust Fund is non-stakeholder. However, we offer a stakeholder Child Trust Fund through Kingston Unity Friendly Society. Details available from the Earl Shilton Building Society
• The child, or registered contact, may not apply for, or hold, more than one Child Trust Fund for the same child. However, transfers may be made to or from Earl Shilton Building Society without charge
• The Child Trust Fund is a Government initiative and the information pack issued by HM Revenue & Customs should be read prior to opening an account

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• Minimum investment and operating balance £250, additional subscriptions from £1
• Maximum investment £10,000
• The Account may only be opened by under 18's, sole investors only
• 3 withdrawals per year (1st March to end of February inclusive) subject to daily cash limits
• 4th withdrawal closes account. A new one cannot then be opened for 12 months.
• The account is limited to one per investor.
• Interest is calculated daily and is variable. Interest is compounded annually on the last day of February and may only be added to the account.
• Proof of age will be required when opening an account.
• The account closes at age 21 and unless other instructions are received, the account will be transferred into an instant access account.

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• Minimum Balance £1
• Maximum Balance £1000
• Available up to age 18 years.
• Interest is calculated to the end of February and is available from the 1st of March.
• Interest is calculated daily and is variable.
• Free Money Box with every account opened.
• Free giveaways from time to time.
• Instant Access
• Once the age of 18 is reached, the account will be converted into a Double Top Account. Further identification would be required at this time.

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