Skip to main content
Junior Savers

Junior Savers

We have several options for junior savers and those saving on behalf of a grandchild or child for their future.

You qualify for a junior savings account with us if: You are under 18 and you live in the UK.

Pick one of our special junior accounts and if you like what you see, come into the branch and open one today!

Junior Saver Account

2.95%

Gross rate / 2.95% AER without bonus

4.20%

Gross rate / 4.20% AER (includes bonus of 1.25%)

Rate Type

Variable

Helping you to start the savings habit early.

X

Download an application form

To be able to download an application form you must first read the documentation below. Only when you have read the information and fully understand how the account works should you click to download the application form. For sole applications please complete only Account Holder 1 sections

Download an application form

Print, complete and post your application form to:

Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR

Before posting you should remember to include:

  • Proof of your identity
  • A cheque for your opening deposit from your personal bank account

If you have any questions about opening an account with us please email enquiries@penrithbs.co.uk or call us on 01768 863675.

Download Application
Contact Us
Find out more
What is the interest rate? Interest Rate without bonus
+Gross Rate%2.95Interest Rate with bonus (includes a bonus of 1.25%)
+Gross Rate%
4.20*		 Interest Rate without bonus
^AER Rate%2.95Interest Rate with bonus (includes a bonus of 1.25%)
^AER Rate%
4.20*
  • Interest is paid annually on 31st December and on maturity and will be added to the account balance
  • On the birthday of the young person a bonus equivalent to an additional 1.25% will be credited to the account. The bonus will be calculated on a daily basis from the date the account was opened or the young person’s last birthday, whichever is the later date. The bonus will be guaranteed for the life of the account.
Can Penrith Building Society change the interest rate? Rates are variable. This means we may increase or decrease the rates at any time. When we increase the rates we will tell you about it by placing notices in our Principal Office, on our website or in the local press within three working days of the change or within 30 days of the change, by letter or other personal notice.

Where the change is a reduction in the interest rate we will give you written notification of the change before it comes into effect.

This does not apply to:

  • interest rate tiers applicable to balances below the minimum operating balance for the account (provided we have clearly told you about the minimum balance requirements); or
  • fixed rate accounts

If your account has a balance of £100 or more at the time the decision is taken to change the interest rate notification will be provided either:

  • at least 14 days before the rate change. You will then have a period of 30 days from the date of notification during which you may close or switch your account without having to give any period of notice or having to lose any interest or pay additional charges; or
  • the notification will be provided at least 14 days plus the period of notice applicable to the account (or 30 days if longer than the notice period) before the rate change. In this case the normal notice period for making withdrawals from or closing the account will apply.

If you do not notify us that you object to a change before the date on which it comes into effect, you will be deemed to have accepted it.

The information on our website will be updated within three working days of an interest rate change.
What would the estimated balance be after 12 months based on a £1,000 deposit? £1,029.50

This projection is provided for illustrative purposes only, it does not include the bonus. It is based on no further deposits or withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate.
What would the estimated balance be after 12 months based on a £1,000 deposit and including the bonus of 1.25%? £1,035.87

This projection is provided for illustrative purposes only. It is based on the assumption that the child’s birthday is 6 months after the account is opened, that no further deposits or withdrawals are made and interest being added to the account. The projected balance is based on the annual interest rate.
How do I open and manage my account?
  • This account is available to UK residents aged 0-18 years old and can be opened in branch or by post. To open an account simply call into Penrith Building Society with the child’s and any trustee’s identification and complete the relevant application form. Alternatively an application pack can be downloaded from our website or posted to you. Details of identification requirements can be obtained from our branch or on our website
  • If the applicant is under 7 years of age we will ask for the application form signed by and additional identification documents from a parent, guardian or trustee
  • Only one account can be opened for each young person
  • Minimum investment £1
  • Maximum investment £10,000
  • The Society’s total limit on combined savings should not exceed £250,000
  • You can make payments into your account at any time by cash or cheque at our office during our normal opening hours by bank transfer or by post
  • Cheques made payable to the Society will only be accepted for payment into an account if they contain details (such as the name(s) of the account holder(s) or the account number)
  • You will receive a passbook to help keep track of your savings
  • Payments into your account can only be made in £ sterling
  • If you would like to talk to us about your account you can
    • speak to a member of staff at our branch office at 7 King Street, Penrith, Cumbria. CA11 7AR
    • Call one of our team on 01768 863675
    • Visit our website www.penrithbs.co.uk
Can I withdraw money? Withdrawals can be made on demand during our normal business hours subject to our withdrawal limits and leaving the minimum balance of £1. If the account is held in trust for the young person, we may request confirmation that withdrawals are for the child’s benefit. You must produce your passbook at the time of withdrawal. You can withdraw money in the following ways:

    • In person at our branch
    • By written postal request

Where the account is held by a trustee for the young person:

    • if the account is closed before the young person’s 18th birthday the closing
      cheque must be made payable to the young person.
  • Prior to the young person’s 18th birthday we will contact the trustee for
    maturity instructions. If funds are to be withdrawn from the Society all
    cheques will only be made payable in the young person’s name. If funds are
    to be transferred within the Society the receiving account must be in the
    young person’s name.
Additional Information Tax treatment depends on individual circumstances and may be subject to change in the future.

+ Gross Rate is the rate of interest payable (without deduction of tax) and you will be responsible for paying tax you owe on interest as per your individual circumstances. ^ AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

 DOWNLOAD KEY PRODUCT INFORMATION AS A PDF 

DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS

JISA (Junior ISA)

3.85%

Tax free rate / 3.85% AER 

Rate Type

Variable

Put simply, a Tax-Free account means you don’t have to pay tax on the interest that you earn. With other savings accounts, the interest you earn is paid on a gross basis (without the deduction of tax), but you may still have an obligation to pay tax on it if the sum earned is above a certain level.

X

Download an application form

To be able to download an application form you must first read the documentation below. Only when you have read the information and fully understand how the account works should you click to download the application form. For sole applications please complete only Account Holder 1 sections

Download an application form

Print, complete and post your application form to:

Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR

Before posting you should remember to include:

  • Proof of your identity
  • A cheque for your opening deposit from your personal bank account

If you have any questions about opening an account with us please email enquiries@penrithbs.co.uk or call us on 01768 863675.

Download Application
Contact Us
Find out more
What is the interest rate? +Tax Free Rate%

3.85

 ^AER%

3.85
Interest is paid annually on 5th April and will be added to the account balance
Can Penrith Building Society change the interest rate? Rates are variable. This means we may increase or decrease the rates at any time. When we increase the rates we will tell you about it by placing notices in our Principal Office, on our website or in the local press within three working days of the change or within 30 days of the change, by letter or other personal notice.

Where the change is a reduction in the interest rate we will give you written notification of the change before it comes into effect.

This does not apply to:

  • interest rate tiers applicable to balances below the minimum operating balance for the account (provided we have clearly told you about the minimum balance requirements); or
  • fixed rate accounts

If your account has a balance of £100 or more at the time the decision is taken to change the interest rate notification will be provided either:

  • at least 14 days before the rate change. You will then have a period of 30 days from the date of notification during which you may close or switch your account without having to give any period of notice or having to lose any interest or pay additional charges; or
  • the notification will be provided at least 14 days plus the period of notice applicable to the account (or 30 days if longer than the notice period) before the rate change. In this case the normal notice period for making withdrawals from or closing the account will apply.

If you do not notify us that you object to a change before the date on which it comes into effect, you will be deemed to have accepted it.

The information on our website will be updated within three working days of an interest rate change.
What would the estimated balance be after 12 months based on a £1,000 deposit? £1,038.50

This projection is provided for illustrative purposes only. It is based on no further deposits or withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate.
How do I open and manage my account?
  • This account can be opened in branch or by post, to open an account simply call into Penrith Building Society with identification and complete the relevant application form. Alternatively, an application pack can be downloaded from our website or posted to you. Details of identification requirements can be obtained from our branch or on our website
  • An application can only be made by a person age 16 or over. Where the child is 16 or over, either the child or a person with parental responsibility can apply to open the account. Where the child is under 16 only a person with parental responsibility can apply to open the account
  • Minimum investment £1
  • The maximum allowance for the tax year 2024/25 is £9,000
  • One account per child
  • The Society’s total limit on combined savings should not exceed £250,000
  • You can make payments into your account at any time by cash or cheque at our office during our normal opening hours by bank transfer or by post
  • Cheques made payable to the Society will only be accepted for payment into an account if they contain details (such as the name(s) of the account holder(s) or the account number)
  • You will receive a passbook to help keep track of your savings
  • Payments into your account can only be made in £ sterling
  • If you would like to talk to us about your account you can
    • speak to a member of staff at our branch office at 7 King Street, Penrith, Cumbria. CA11 7AR
    • Call one of our team on 01768 863675
    • Visit our website www.penrithbs.co.uk
Can I withdraw money? Withdrawals cannot be made until the child reaches 18 when the JISA will roll over into an adult Cash ISA or in the following exceptional circumstances:

  • Where a terminal illness claim made on behalf of the child has been agreed;
  • On the death of the child
Additional Information Your JISA savings are tax exempt and do not count towards your Personal Savings Allowance. The tax treatment of JISA’s may be subject to change in the future.
+ Tax Free Rate is the contractual rate of interest payable where interest is exempt from income tax.
^ AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Key Features of the Junior ISA

The Financial Conduct Authority is a financial services regulator. It requires us, Penrith Building Society, to give you this important information to help you decide whether our Junior ISA (JISA) is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference. An ISA can be a Cash ISA, a Stocks and Shares ISA or an Innovative Finance ISA. Here at Penrith Building Society we only offer Cash ISA savings accounts and the ISA explained in this leaflet is a Cash JISA. We also offer an Additional Permitted Subscription (APS) ISA and a Cash ISA, please ask in branch for separate details and terms and conditions. JISA’s are Junior Individual Savings Accounts which are free from income tax and have been introduced to replace Child Trust Funds Accounts. JISAs are a type of ISA available to eligible children in respect of which instructions are given by a “registered contact”. Our Junior JISA is an ideal way to make the most of your tax-free privileges without risking your capital on the stock market and it is simple to open. Eligibility To apply for a Junior ISA you must:

  • Be a child under 18 years of age, born on or after 3rd January 2011 or does not hold a Child Trust Fund
  • The child must be resident in the UK or, if not so resident, be performing duties as a Crown employee serving overseas and paid out of the public revenue of the United Kingdom (typically a serving member of the armed forces, or a diplomat), or be married to, or in a civil partnership with, such a person
  • You must not have subscribed to another Cash JISA
  • Applications can be made on behalf of an eligible child by the person with parental responsibility (the registered contact), or by the child is aged 16 or over
  • Provide confirmation of identity and address, details of identification requirements are available in branch or online at www.penrithbs.co.uk
  • A Cash JISA cannot be opened before a valid application form is completed and held by us

Ownership of Account The child is the beneficial owner of the funds in the account. Subscriptions made to a JISA are deemed to be a gift to the child and cannot be repaid to the subscriber. There can only be one Registered Contact for a JISA at any time. The Registered Contact is the only person who can give instructions in respect of the JISA. During the lifetime of the account the role of the Registered Contact can be passed to another person who has parental responsibility, subject to an application procedure. The consent of the existing Registered Contact to relinquish their status will be required in writing except in the following circumstances:

  • Where the applicant is the account holder who is 16 years or older
  • On the death or incapacity of the existing Registered Contact
  • Where the existing Registered Contact lacks capacity
  • Where the existing Registered Contact cannot be contacted
  • Where a Court Order brings to an end the existing Registered Contact being a person with parental responsibility for the child
  • Where a Court has appointed a Guardian or a Special Guardian of the child who holds the JISA
  • Where a Court orders that the person who is the existing Registered Contact ceases to be so
  • Where the new Registered Contact has adopted the child under an Adoption Order

General Operation

  • The Penrith Building Society Junior ISA is available in branch or by post
  • The minimum opening deposit and operating balance is £1
  • You may transfer your Junior ISA to another provider, this must be transferred in full we do not allow partial transfers from this account
  • Deposits can be made in cash or by cheque, at the Society’s branch, or by post, you will receive a passbook to help keep track of your savings

Can I transfer my Child Trust Fund (CTF) to a Junior ISA from another provider to the Penrith Building Society? Yes, if you wish to transfer your Child Trust Fund to a Penrith Building Society Cash JISA, you will need to complete a transfer authority with us. We will then contact your CTF provider and request the transfer. The transfer can only be requested by the registered contact for the CTF and we can only accept the transfer of cash CTF’s. Can I transfer my Penrith Building Society Junior ISA to another provider? Yes, subject to the new ISA Manager agreeing to accept the transfer. Transfers to other Cash JISA providers are permitted and are penalty free. If you ever wish to transfer your Penrith Building Society Cash JISA to another provider you will need to complete a Cash JISA Transfer Application form with your new provider, who will forward the request to us. You will need to send us your passbook and can do this direct, or via your new Cash JISA provider. HMRC rules surrounding this are as follows:

  • You can transfer from one Junior ISA to another Junior ISA, or to a Stocks & Shares Junior ISA
  • You can only hold one Junior ISA at a time therefore if you transfer your Penrith Building Society Junior ISA to another provider, then all of your savings up to the date of the transfer must be transferred, we do not allow partial transfers from our Junior ISA accounts

What if I change my mind? You have 14 days after the date that your account is opened to change your mind and you will not be charged. You can cancel your investment by letting us know in writing during this period and your cancelled Cash JISA will not count as a Cash JISA subscription. Any interest that you have earned on your savings during this period will be paid gross. We will only allow the closure after any cheque payments have been cleared. Are you a new customer to Penrith Building Society? If you are a new customer, you will need to provide some form of identification and verification of address. Details of acceptable documentary evidence accompany this factsheet. The Financial Services Compensation Scheme Penrith Building Society is a participant of the Financial Services Compensation Scheme (FSCS) and your deposits are protected under this scheme. For further information about the compensation provided by the FSCS, refer to the FSCS website at www.fscs.org.uk Complaints The Society always tries to provide a first class service. Occasionally, however, things can go wrong. If they do, we will try to put them right. If you wish to make a complaint, the Society’s complaints procedures are detailed in the Terms and Conditions for Investments Accounts booklet. Further Information Information on ISAs can be obtained from the HMRC ISA Helpline on 0300 200 3312, or by visiting www.gov.uk/individual-savings-accounts General Terms & Conditions

  • You must be, and must remain, the beneficial owner of the funds in the account. The account cannot be used as security for a loan
  • The Society does not have to recognise the interest or claim of any person other than the account holder in respect of money held in any account, nor will the Society be liable in any way for failing to recognise such interest or claim, except as required by law
  • The holder of a Penrith Building Society Cash JISA is a member of the Society and as such is bound by the Rules of the Society as they apply from time to time. A copy of the Rules can be obtained on request on opening the account. In the event that a member loses his/her copy of the Rules and wishes to obtain a replacement, a nominal charge of £1.00 will be levied
  • Penrith Building Society will satisfy itself that any person to whom it delegates any of its functions or responsibilities under the terms agreed with the investor is competent to carry out those functions and responsibilities
  • These conditions should be read in conjunction with the Society’s Terms & Conditions for Investment Accounts booklet, which also contains details of the Society’s complaints procedures. It is important that the details set out in both this document and the booklet are read through carefully before you open the account
  • The account must not be a joint account or held on behalf of a person other than the account holder
  • The account will be operated in accordance with prevailing rules and regulations and legislation, which may, of course, be varied from time to time by the Government
  • The Society will notify the registered contact if, by reason of any failure to satisfy the provisions of the JISA Regulations, the JISA has, or will, become void
  • The minimum operating balance is £1
  • On instructions received from the Registered Contact, your Cash JISA, with all rights and obligations, shall be transferred to another JISA manager in accordance with the JISA Regulations relating to transfers. On receipt of your transfer instructions from your new JISA Manager, we will send your funds and accompanying information to them within 5 business days from the date of receipt
  • The Penrith Building Society Cash JISA can run from one tax year to the next, but if there is a break between subscriptions which lasts for a whole tax year, you must make a fresh application before subscriptions can recommence

Junior Affinity Regular Saver - Supporting Greener Every Day

4.70%

Gross rate / 4.70% AER 

Rate Type

Variable

You can choose to support one of our affinity partners by opening an Affinity Instant Access Share. We donate a percentage of the average balance on these accounts to your chosen affinity partner annually. 

X

Download an application form

To be able to download an application form you must first read the documentation below. Only when you have read the information and fully understand how the account works should you click to download the application form. For sole applications please complete only Account Holder 1 sections

Download an application form

Print, complete and post your application form to:

Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR

Before posting you should remember to include:

  • Proof of your identity
  • A cheque for your opening deposit from your personal bank account

If you have any questions about opening an account with us please email enquiries@penrithbs.co.uk or call us on 01768 863675.

Download Application
Contact Us
Find out more
What is the interest rate? +Gross Rate%

4.70

 ^AER%

4.70
  • Interest is paid annually on 31st December and on maturity and will be added to the account balance
  • This is a five year fixed term, variable rate, monthly subscription account
Can Penrith Building Society change the interest rate? Rates are variable. This means we may increase or decrease the rates at any time. When we increase the rates we will tell you about it by placing notices in our Principal Office, on our website or in the local press within three working days of the change or within 30 days of the change, by letter or other personal notice.

Where the change is a reduction in the interest rate we will give you written notification of the change before it comes into effect.

This does not apply to:

  • interest rate tiers applicable to balances below the minimum operating balance for the account (provided we have clearly told you about the minimum balance requirements); or
  • fixed rate accounts

If your account has a balance of £100 or more at the time the decision is taken to change the interest rate notification will be provided either:

  • at least 14 days before the rate change. You will then have a period of 30 days from the date of notification during which you may close or switch your account without having to give any period of notice or having to lose any interest or pay additional charges; or
  • the notification will be provided at least 14 days plus the period of notice applicable to the account (or 30 days if longer than the notice period) before the rate change. In this case the normal notice period for making withdrawals from or closing the account will apply.

If you do not notify us that you object to a change before the date on which it comes into effect, you will be deemed to have accepted it.

The information on our website will be updated within three working days of an interest rate change.
What would the estimated balance be after 60 months based on a maximum monthly subscription of £100 per month? £6,758.94

This projection is provided for illustrative purposes only. It is based on the maximum monthly subscription of £100 being made for the full term of 5 years, that no withdrawals are made and interest being added to the account. The projected balance is based on the annual interest rate.
What would the estimated balance be 12 months after the fixed term expires based on the balance at maturity? £6,965.09

This projection is provided for illustrative purposes only. It is based on no further deposits or withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate of the Instant Access Shares.

  
How do I open and manage my account?
  • This account is available to UK residents age 0-16 and can be opened in branch or by post, to open an account simply call into Penrith Building Society with identification and complete the relevant application form. Alternatively an application pack can be downloaded from our website or posted to you. Details of identification requirements can be obtained from our branch or on our website
  • If the applicant is under 7 years of age we will ask for the application form to be signed by a parent, guardian or trustee (one trustee per account permitted)
  • Minimum investment £5
  • The monthly subscription is any amount between £5 to £100 for 60 months, the monthly subscription can be any amount from £5 up to the maximum. You are not required to make monthly subscriptions however, if a monthly subscription is missed this cannot be caught up in subsequent months
  • 5 year fixed term savings
  • One account per child
  • The Society’s total limit on combined savings should not exceed £250,000
  • You can make payments into your account at any time by cash or cheque at our office during our normal opening hours by bank transfer or by post
  • Cheques made payable to the Society will only be accepted for payment into an account if they contain details (such as the name(s) of the account holder(s) or the account number)
  • You will receive a passbook to help keep track of your savings
  • Payments into your account can only be made in £ sterling
  • If you would like to talk to us about your account you can
    • speak to a member of staff at our branch office at 7 King Street, Penrith, Cumbria. CA11 7AR
    • Call one of our team on 01768 863675
    • Visit our website www.penrithbs.co.uk
Can I withdraw money? A maximum of two withdrawals per year (January to December) of any amount leaving the minimum balance of £5. Withdrawals can be made on demand during our normal business hours subject to our withdrawal limits. The account cannot be closed prior to maturity other than in the event of the death of the investor. On maturity, if the account has not been closed, the maturing funds, including compounded interest will be transferred to the Instant Access Shares. You must produce your passbook at the time of withdrawal. You can withdraw money in the following ways:

  • In person at our branch
  • By written postal request
Additional Information
  • Tax treatment depends on individual circumstances and may be subject to change in the future.
  • By opening a Junior Affinity Regular Saver which supports Greener Every Day (GED) with Penrith Building Society, you can be a part of this worthwhile initiative without it costing you a penny. Penrith Building Society will make a cash payment each year to GED equal to 0.50% gross interest on the average total balance held in all Junior Affinity Regular Saver Accounts that support GED. This means the more supporters who save in the scheme, the bigger the cash payment will be to GED.

+ Gross Rate is the rate of interest payable (without deduction of tax) and you will be responsible for paying tax you owe on interest as per your individual circumstances.
^ AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

DOWNLOAD KEY PRODUCT INFORMATION AS A PDF

DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS

 

 

Junior Affinity Regular Saver – Supporting Greener Every Day

4.70%

Gross rate / 4.70% AER

Rate Type

Variable

By opening a Junior Affinity Regular Saver which supports Greener EveryDay (GED) with Penrith Building Society, you can be a part of this worthwhile initiative to help plant trees without it costing you a penny. Penrith Building Society will make a cash payment each year to GED equal to 0.50% gross interest on the average total balance held in all Junior Affinity Regular Saver Accounts that support GED.This means the more supporters who save in the scheme, the bigger the cash payment will be to GED.

X

Download an application form

To be able to download an application form you must first read the documentation below. Only when you have read the information and fully understand how the account works should you click to download the application form. For sole applications please complete only Account Holder 1 sections

Download an application form

Print, complete and post your application form to:

Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR

Before posting you should remember to include:

  • Proof of your identity
  • A cheque for your opening deposit from your personal bank account

If you have any questions about opening an account with us please email enquiries@penrithbs.co.uk or call us on 01768 863675.

Download Application
Contact Us
Find out more
What is the interest rate? +Gross Rate%

4.70

 ^AER%

4.70
  • Interest is paid annually on 31st December and on maturity and will be added to the account balance
  • This is a five year fixed term, variable rate, monthly subscription account
Can Penrith Building Society change the interest rate? Rates are variable. This means we may increase or decrease the rates at any time. When we increase the rates we will tell you about it by placing notices in our Principal Office, on our website or in the local press within three working days of the change or within 30 days of the change, by letter or other personal notice.

Where the change is a reduction in the interest rate we will give you written notification of the change before it comes into effect.

This does not apply to:

  • interest rate tiers applicable to balances below the minimum operating balance for the account (provided we have clearly told you about the minimum balance requirements); or
  • fixed rate accounts

If your account has a balance of £100 or more at the time the decision is taken to change the interest rate notification will be provided either:

  • at least 14 days before the rate change. You will then have a period of 30 days from the date of notification during which you may close or switch your account without having to give any period of notice or having to lose any interest or pay additional charges; or
  • the notification will be provided at least 14 days plus the period of notice applicable to the account (or 30 days if longer than the notice period) before the rate change. In this case the normal notice period for making withdrawals from or closing the account will apply.

If you do not notify us that you object to a change before the date on which it comes into effect, you will be deemed to have accepted it.

The information on our website will be updated within three working days of an interest rate change.
What would the estimated balance be after 60 months based on a maximum monthly subscription of £100 per month? £6,758.94

This projection is provided for illustrative purposes only. It is based on the maximum monthly subscription of £100 being made for the full term of 5 years, that no withdrawals are made and interest being added to the account. The projected balance is based on the annual interest rate.
What would the estimated balance be 12 months after the fixed term expires based on the balance at maturity? £6,965.09

This projection is provided for illustrative purposes only. It is based on no further deposits or withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate of the Instant Access Shares.

  
How do I open and manage my account?
  • This account is available to UK residents age 0-16 and can be opened in branch or by post, to open an account simply call into Penrith Building Society with identification and complete the relevant application form. Alternatively an application pack can be downloaded from our website or posted to you. Details of identification requirements can be obtained from our branch or on our website
  • If the applicant is under 7 years of age we will ask for the application form to be signed by a parent, guardian or trustee (one trustee per account permitted)
  • Minimum investment £5
  • The monthly subscription is any amount between £5 to £100 for 60 months, the monthly subscription can be any amount from £5 up to the maximum. You are not required to make monthly subscriptions however, if a monthly subscription is missed this cannot be caught up in subsequent months
  • 5 year fixed term savings
  • One account per child
  • The Society’s total limit on combined savings should not exceed £250,000
  • You can make payments into your account at any time by cash or cheque at our office during our normal opening hours by bank transfer or by post
  • Cheques made payable to the Society will only be accepted for payment into an account if they contain details (such as the name(s) of the account holder(s) or the account number)
  • You will receive a passbook to help keep track of your savings
  • Payments into your account can only be made in £ sterling
  • If you would like to talk to us about your account you can
    • speak to a member of staff at our branch office at 7 King Street, Penrith, Cumbria. CA11 7AR
    • Call one of our team on 01768 863675
    • Visit our website www.penrithbs.co.uk
Can I withdraw money? A maximum of two withdrawals per year (January to December) of any amount leaving the minimum balance of £5. Withdrawals can be made on demand during our normal business hours subject to our withdrawal limits. The account cannot be closed prior to maturity other than in the event of the death of the investor. On maturity, if the account has not been closed, the maturing funds, including compounded interest will be transferred to the Instant Access Shares. You must produce your passbook at the time of withdrawal. You can withdraw money in the following ways:

  • In person at our branch
  • By written postal request
Additional Information
  • Tax treatment depends on individual circumstances and may be subject to change in the future.
  • By opening a Junior Affinity Regular Saver which supports Greener Every Day (GED) with Penrith Building Society, you can be a part of this worthwhile initiative without it costing you a penny. Penrith Building Society will make a cash payment each year to GED equal to 0.50% gross interest on the average total balance held in all Junior Affinity Regular Saver Accounts that support GED. This means the more supporters who save in the scheme, the bigger the cash payment will be to GED.

+ Gross Rate is the rate of interest payable (without deduction of tax) and you will be responsible for paying tax you owe on interest as per your individual circumstances.
^ AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

DOWNLOAD KEY PRODUCT INFORMATION AS A PDF

DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS

Junior Affinity Regular Saver – Supporting Penrith RUFC Juniors

4.70%

Gross rate / 4.70% AER

Rate Type

Variable

Helping you to start the savings habit early.

X

Download an application form

To be able to download an application form you must first read the documentation below. Only when you have read the information and fully understand how the account works should you click to download the application form. For sole applications please complete only Account Holder 1 sections

Download an application form

Print, complete and post your application form to:

Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR

Before posting you should remember to include:

  • Proof of your identity
  • A cheque for your opening deposit from your personal bank account

If you have any questions about opening an account with us please email enquiries@penrithbs.co.uk or call us on 01768 863675.

Download Application
Contact Us
Find out more
What is the interest rate? +Gross Rate%

4.70

 ^AER%

4.70
  • Interest is paid annually on 31st December and on maturity and will be added to the account balance
  • This is a five year fixed term, variable rate, monthly subscription account
Can Penrith Building Society change the interest rate? Rates are variable. This means we may increase or decrease the rates at any time. When we increase the rates we will tell you about it by placing notices in our Principal Office, on our website or in the local press within three working days of the change or within 30 days of the change, by letter or other personal notice.

Where the change is a reduction in the interest rate we will give you written notification of the change before it comes into effect.

This does not apply to:

  • interest rate tiers applicable to balances below the minimum operating balance for the account (provided we have clearly told you about the minimum balance requirements); or
  • fixed rate accounts

If your account has a balance of £100 or more at the time the decision is taken to change the interest rate notification will be provided either:

  • at least 14 days before the rate change. You will then have a period of 30 days from the date of notification during which you may close or switch your account without having to give any period of notice or having to lose any interest or pay additional charges; or
  • the notification will be provided at least 14 days plus the period of notice applicable to the account (or 30 days if longer than the notice period) before the rate change. In this case the normal notice period for making withdrawals from or closing the account will apply.

If you do not notify us that you object to a change before the date on which it comes into effect, you will be deemed to have accepted it.

The information on our website will be updated within three working days of an interest rate change.
What would the estimated balance be after 60 months based on a maximum monthly subscription of £100 per month? £6,758.94

This projection is provided for illustrative purposes only. It is based on the maximum monthly subscription of £100 being made for the full term of 5 years, that no withdrawals are made and interest being added to the account. The projected balance is based on the annual interest rate.
What would the estimated balance be 12 months after the fixed term expires based on the balance at maturity? £6,965.09

This projection is provided for illustrative purposes only. It is based on no further deposits or withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate of the Instant Access Shares.

  
How do I open and manage my account?
  • This account is available to UK residents age 0-16 and can be opened in branch or by post, to open an account simply call into Penrith Building Society with identification and complete the relevant application form. Alternatively an application pack can be downloaded from our website or posted to you. Details of identification requirements can be obtained from our branch or on our website
  • If the applicant is under 7 years of age we will ask for the application form to be signed by a parent, guardian or trustee (one trustee per account permitted)
  • Minimum investment £5
  • The monthly subscription is any amount between £5 to £100 for 60 months, the monthly subscription can be any amount from £5 up to the maximum. You are not required to make monthly subscriptions however, if a monthly subscription is missed this cannot be caught up in subsequent months
  • 5 year fixed term savings
  • One account per child
  • The Society’s total limit on combined savings should not exceed £250,000
  • You can make payments into your account at any time by cash or cheque at our office during our normal opening hours by bank transfer or by post
  • Cheques made payable to the Society will only be accepted for payment into an account if they contain details (such as the name(s) of the account holder(s) or the account number)
  • You will receive a passbook to help keep track of your savings
  • Payments into your account can only be made in £ sterling
  • If you would like to talk to us about your account you can
    • speak to a member of staff at our branch office at 7 King Street, Penrith, Cumbria. CA11 7AR
    • Call one of our team on 01768 863675
    • Visit our website www.penrithbs.co.uk
Can I withdraw money? A maximum of two withdrawals per year (January to December) of any amount leaving the minimum balance of £5. Withdrawals can be made on demand during our normal business hours subject to our withdrawal limits. The account cannot be closed prior to maturity other than in the event of the death of the investor. On maturity, if the account has not been closed, the maturing funds, including compounded interest will be transferred to the Instant Access Shares. You must produce your passbook at the time of withdrawal. You can withdraw money in the following ways:

  • In person at our branch
  • By written postal request
Additional Information
  • Tax treatment depends on individual circumstances and may be subject to change in the future.
  • By opening a Junior Affinity Regular Saver which supports Penrith RUFC Juniors (PRUFC Juniors) with Penrith Building Society, you can be a part of this worthwhile initiative supporting PRUFC Juniors without it costing you a penny. Penrith Building Society will make a cash payment each year to PRUFC Juniors equal to 0.50% gross interest on the average total balance held in all Junior Affinity Regular Saver Accounts that support PRUFC Juniors. This means the more supporters who save in the scheme, the bigger the cash payment will be to PRUFC Juniors.

+ Gross Rate is the rate of interest payable (without deduction of tax) and you will be responsible for paying tax you owe on interest as per your individual circumstances.
^ AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

DOWNLOAD KEY PRODUCT INFORMATION AS A PDF

DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS

Junior Affinity Regular Saver – Supporting Penrith & District Red Squirrel Group

4.70%

Gross rate / 4.70% AER

Rate Type

Variable

Helping you to start the savings habit early.

X

Download an application form

To be able to download an application form you must first read the documentation below. Only when you have read the information and fully understand how the account works should you click to download the application form. For sole applications please complete only Account Holder 1 sections

Download an application form

Print, complete and post your application form to:

Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR

Before posting you should remember to include:

  • Proof of your identity
  • A cheque for your opening deposit from your personal bank account

If you have any questions about opening an account with us please email enquiries@penrithbs.co.uk or call us on 01768 863675.

Download Application
Contact Us
Find out more
What is the interest rate? +Gross Rate%

4.70

 ^AER%

4.70
  • Interest is paid annually on 31st December and on maturity and will be added to the account balance
  • This is a five year fixed term, variable rate, monthly subscription account
Can Penrith Building Society change the interest rate? Rates are variable. This means we may increase or decrease the rates at any time. When we increase the rates we will tell you about it by placing notices in our Principal Office, on our website or in the local press within three working days of the change or within 30 days of the change, by letter or other personal notice.

Where the change is a reduction in the interest rate we will give you written notification of the change before it comes into effect.

This does not apply to:

  • interest rate tiers applicable to balances below the minimum operating balance for the account (provided we have clearly told you about the minimum balance requirements); or
  • fixed rate accounts

If your account has a balance of £100 or more at the time the decision is taken to change the interest rate notification will be provided either:

  • at least 14 days before the rate change. You will then have a period of 30 days from the date of notification during which you may close or switch your account without having to give any period of notice or having to lose any interest or pay additional charges; or
  • the notification will be provided at least 14 days plus the period of notice applicable to the account (or 30 days if longer than the notice period) before the rate change. In this case the normal notice period for making withdrawals from or closing the account will apply.

If you do not notify us that you object to a change before the date on which it comes into effect, you will be deemed to have accepted it.

The information on our website will be updated within three working days of an interest rate change.
What would the estimated balance be after 60 months based on a maximum monthly subscription of £100 per month? £6,758.94

This projection is provided for illustrative purposes only. It is based on the maximum monthly subscription of £100 being made for the full term of 5 years, that no withdrawals are made and interest being added to the account. The projected balance is based on the annual interest rate.
What would the estimated balance be 12 months after the fixed term expires based on the balance at maturity? £6,965.09

This projection is provided for illustrative purposes only. It is based on no further deposits or withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate of the Instant Access Shares.

  
How do I open and manage my account?
  • This account is available to UK residents age 0-16 and can be opened in branch or by post, to open an account simply call into Penrith Building Society with identification and complete the relevant application form. Alternatively an application pack can be downloaded from our website or posted to you. Details of identification requirements can be obtained from our branch or on our website
  • If the applicant is under 7 years of age we will ask for the application form to be signed by a parent, guardian or trustee (one trustee per account permitted)
  • Minimum investment £5
  • The monthly subscription is any amount between £5 to £100 for 60 months, the monthly subscription can be any amount from £5 up to the maximum. You are not required to make monthly subscriptions however, if a monthly subscription is missed this cannot be caught up in subsequent months
  • 5 year fixed term savings
  • One account per child
  • The Society’s total limit on combined savings should not exceed £250,000
  • You can make payments into your account at any time by cash or cheque at our office during our normal opening hours by bank transfer or by post
  • Cheques made payable to the Society will only be accepted for payment into an account if they contain details (such as the name(s) of the account holder(s) or the account number)
  • You will receive a passbook to help keep track of your savings
  • Payments into your account can only be made in £ sterling
  • If you would like to talk to us about your account you can
    • speak to a member of staff at our branch office at 7 King Street, Penrith, Cumbria. CA11 7AR
    • Call one of our team on 01768 863675
    • Visit our website www.penrithbs.co.uk
Can I withdraw money? A maximum of two withdrawals per year (January to December) of any amount leaving the minimum balance of £5. Withdrawals can be made on demand during our normal business hours subject to our withdrawal limits. The account cannot be closed prior to maturity other than in the event of the death of the investor. On maturity, if the account has not been closed, the maturing funds, including compounded interest will be transferred to the Instant Access Shares. You must produce your passbook at the time of withdrawal. You can withdraw money in the following ways:

  • In person at our branch
  • By written postal request
Additional Information
  • Tax treatment depends on individual circumstances and may be subject to change in the future.
  • By opening a Junior Affinity Regular Saver which supports Penrith Red Squirrel Group (P&DRSG) with Penrith Building Society, you can be a part of this worthwhile initiative to help save the Red Squirrels without it costing you a penny. Penrith Building Society will make a cash payment each year to P&DRSG equal to 0.50% gross interest on the average total balance held in all Junior Affinity Regular Saver Accounts that support P&DRSG. This means the more supporters who save in the scheme, the bigger the cash payment will be to P&DRSG.

+ Gross Rate is the rate of interest payable (without deduction of tax) and you will be responsible for paying tax you owe on interest as per your individual circumstances.
^ AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

DOWNLOAD KEY PRODUCT INFORMATION AS A PDF

DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS
X

Your eligible deposits held by a UK establishment of Penrith Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

Further information is available here »»
(PDF Version)

Or visit www.fscs.org.uk.

Skip to content