Vernon Building Society

Key Features

Special high interest account for young savers

Available to account holders up to the age of 18

Pay money in by cash or cheque in branch, or by standing order/direct transfer from your bank account

Open with just £10

Summary of account

Account name

Young Saver Easy Access

What is the interest rate?

Annual Interest		Gross	AER
£0+		1.25%	1.25%

The interest rate is variable. Interest is calculated daily and added to your account on 31st March. Interest is paid gross without tax deducted.

Can Vernon Building Society change the interest rate?

We have the right to vary the rate of interest at any time.

Please see section 10 of our General Savings Account Terms & Conditions for a more detailed explanation which sets out when we can vary the interest rate and how and when we will notify you if this happens. A copy of this brochure is provided when you open the account with us.

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

£1,012.50

This projection is provided for illustration only and does not take into account individual circumstances. This assumes an initial deposit of £1,000 and no further deposits or withdrawals have been made over the 12 month period and that the interest rate does not change.

How do I open and manage my account?

This account is available to UK residents only who live within a 25-mile radius from the postcode noted on the account to our Stockport head office postcode SK1 1HF and are 18 years and above.

You can open and manage the account in branch or by post. Your transactions and balance will be printed in your passbook. Additionally, you can keep up to date by registering for our Online Services.

An account must be operated by either the parent or guardian, or the account holder. It cannot be operated concurrently by both.

A minimum deposit of £10 is required to open the account.

The maximum balance is £85,000 plus any interest that is added to the account.

You can deposit by cash or cheque in branch or by standing order or online banking.

Can I withdraw money?

Withdrawals from the account can be made in branch or through our Online Services.

A parent or guardian needs to sign the withdrawal form or give instructions through Online Services if the account holder is under 10. Upon reaching the age of 10 it is at the parent or guardian’s discretion whether to allow the account holder to make withdrawals on their instructions and/or signature.

Please refer to section 12 of the General Savings Terms & Conditions brochure for further information.

Additional information:

Please note that funds saved into a child’s account belong to that child as they are the account holder. If the parent or guardian wants to retain full and complete control over the money given to the child then this account may not be suitable.The balance and all transactions should only be for the benefit of the child.

When they reach 18 the balance of their account will be automatically transferred to an Instant Access account and any parent or guardian signatory will be removed. At this stage they might also like to consider the other account options open to them

The information contained on this webpage forms part of the terms and conditions of the account and should be read in conjunction with our General Savings Account Terms & Conditions.

Apply for this account

In branch

Branch Finder

Our accounts are available to UK residents only who live within a 25-mile radius from the postcode noted on the account to our Stockport head office postcode SK1 1HF.

Useful downloads

How we're different:

Every member of staff went above and beyond the call of duty and made me realise why I'm with the Vernon and not a bank! Mrs B, Stockport

I could find no fault with the service, everyone has been kind and helpful. Mrs B, Bury

A refreshingly good service. Mr P, Manchester

I have been extremely impressed with the service of the Vernon and wouldn't hesitate to recommend. Mr A, Stockport

Our experience with the Vernon Building Society has been a revelation. Mr & Mrs D, Nottingham

Great service. Friendly, professional and very good interest rates and deals. Ms A, Bollington

I have found the service to be excellent. Mr B, Heaton Moor

Just a simple thank you for your professionalism. Mr P, Merseyside

We would recommend the Vernon to anyone. Extremely professional, helpful and knowledgeable - outstandingly so! Mr & Mrs E, Altrincham

The Vernon gave us a simple explanation of the house buying process which we really appreciated as nervous first time buyers. Mrs C, Hyde

Excellent patient service. I would have no hesitation in recommending the Society to my friends - in fact I already have! Mr L, Richmond

A pleasure to come into your Head Office. There is an air of quiet, friendly efficiency with no hurry or fuss. Mrs H, Heaton Mersey

Far superior to the more well known institutions Mr B, Offerton

Thanks to the Vernon I'm now settled in my new home. Miss F, Hazel Grove

A very friendly, helpful, local process. Mr L, Cheadle Hulme

An exceptional service. You are to be commended. Communication with us was superb and all were very helpful. Mrs J, Romiley

We really valued not being directed to a call centre and found the Vernon to be professional and generous with their time. Mr & Mrs B, Newton Abbot

The Vernon has a quality of service long lost in most banking organisations. Mr M , Cheshire

I have had a good number of building society contacts over the years. The Vernon has by far been the best. Mr P, High Lane

Excellent, friendly and helpful service. Mr P & Mrs C, Taunton

I have been very impressed with the Vernon and would definitely use them again and recommend them to friends. Mrs M , Offerton

I would recommend Vernon Building Society to anyone seeking a mortgage. Ms C, Poynton

The personal service provided was very refreshing - being a name and not just a number on a PC screen. Mrs R, Bolton

A really good service - helpful, friendly and efficient with a good product. Mr G, Poynton

We have passed on details of the Vernon to friends. Mr B, Romiley

A refreshing change to deal with personal service and face to face dealings. Mr L, Stockport

I would like to say a big thank you to the Vernon for the prompt and efficient way our application was dealt with. Mr & Mrs R, Cheadle

It is so refreshing to find a lender that just talks sense. Mrs M , Cheshire

Thank you - one of the few companies with good old-fashioned service! Mr M, Cheshire

I would happily recommend the Vernon. I believe they really care about serving their customers. Mr G, Macclesfield

I feel you are providing a personal service which is brilliant. Mrs C, Preston

Key Features

Summary of account

Account name

What is the interest rate?

Can Vernon Building Society change the interest rate?

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

How do I open and manage my account?

Can I withdraw money?

Additional information:

Apply for this account

In branch

Useful downloads

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