Leeds Building Society

The Vault is an instant access savings account designed for serious savers aged 12-17.

Looking to save for the future? Want to save short term so you can afford that new MP3 player or elusive pair of shoes? Maybe you’ve just started your first part-time job and want to save your earnings! Whatever your lifestyle the Vault is the best way to keep your money safe.

Key features at a glance

Minimum investment: £10.
Maximum investment: £1,000,000.
When is interest paid? Annually on 1 January.
How is interest paid? Interest is credited to the account.
Withdrawals: One withdrawal a week up to £250 may be made by the account holder. Withdrawals over £250 and additional withdrawals in a week must be signed by both the account holder and a parent/guardian.
Age Qualification: 12-17 years old inclusive to open an account. At 18 years old your account will automatically upgrade to our loyalty i-Save account.

How much interest will I earn?

Important notes

§ Gross means the rate payable before the deduction of income tax .

† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

Investments in this account will represent shares in the Society and are subject to the Rules of the Society. Member of the Building Societies’ Association. Leeds Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the Scheme are limited to a maximum payment of £35,000, that is 100% of the first £35,000 of an investor’s total shares and/or deposits in a society. Most investors are covered, including individuals and small firms. A small number of categories of shares and deposits are not covered, for example deferred shares – permanent interest bearing shares. Although most shares are denominated in sterling, all other currencies are covered. Further details are available on request from the Society. Leeds Building Society is authorised and regulated by the Financial Services Authority.

Leeds Building Society subscribes to the Banking Code which sets out standards of good banking practice for banks and building societies. Details of the Code are available at www.bankingcode.co.uk or in the leaflet "The Banking Code" published by the BBA/BSA. The Society is covered by the Financial Ombudsman Service. Leeds Building Society offers some investment products that may be operated through branches and by post and certain products which can be operated by post only.

The Society’s FSA registration number is 164992.

Other taxes or costs may exist that are not paid by Leeds Building Society.