Young Chorleian (Issue 2)

Available to eligible UK residents up to the age of 21 only. 

Account holders under the age of 7 years must have their account operated for them by an adult aged over 18 who will be called the ‘Young Savers Account Operator’. At the age of 7 years, an account holder can operate the account.

To open an account you will need to apply in branch or by post and let us have;

• a fully completed Share Account application form;

• at least the minimum deposit of £1 ; and

• proof of identity, address and  residency for the account holder and where applicable the account operator

The maximum balance is £500,000 and the overall maximum holding by any one person in respect of all savings accounts with the Society is £500,000.

Transfers in from other Chorley Building Society Accounts are permitted.

This is a limited issue and the Society reserves the right to withdraw this product without notice at any time. If this product is withdrawn no further deposits will be allowed into this account. 

This product can be opened and managed in branch, by post, and online. You can also register for Chorley Online where you are able to view transactions, check your balance and interest rates and request withdrawals. Please refer to the Society’s Savings Accounts General Terms and Conditions.

This is an easy access account and you may withdraw by cash, cheque or CHAPs* (*subject to a £25 fee). Cheques requested by post for withdrawals or closures will be issued within 48 hours of receipt and posted 1st class.
Withdrawal conditions apply; please refer to section 9 of the Savings Account General Terms and Conditions for further details.

The account will mature on the account holder’s 21st birthday (or the next working day if this falls on a Saturday, Sunday or Bank Holiday). If you take no action on maturity the balance will be automatically transferred into an easy access Chorleian Account within the Society bearing the account holder's name. We will contact you at least 14 days prior to maturity to advise you of the options available at that time. On maturity you may withdraw by cash, cheque or CHAPs* (*subject to a £25 fee). Cheques will be issued within 48 hours of maturity and posted 1st class to the account holder.

Whether you need to pay tax is dependent on your own personal circumstances and may be subject to change in the future. Interest is paid gross on all our savings accounts – except ISAs where it is paid tax-free. For more information on Tax Allowances please call HMRC on 0300 200 3300 or visit https://www.gov.uk/apply-tax-free-interest-on-savings