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Flexible Saver for Kids

Give your child's savings a boost with a variable rate of 0.40% gross/AER

Because it's made for children, this is a great account for you to start introducing your children to the importance of savings. This children's savings account offers a variable interest rate of 0.40% gross/AER on balances from £1. And they’ll even get a free wall-chart so your child can plan their saving. Once they turn 11 your child can choose to have a cash card to access their money through ATMs. Call in to your local branch to find out how to apply.

  • Why choose the Flexible Saver for Kids?
  • Interest Rates
  • Further Information
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Why choose the Flexible Saver for Kids?

  • Rate - Enjoy a great variable rate of 0.40% gross/AER on balances from £1.
  • Save - from just £1 up to £2million.
  • Bonus – You will receive a free certificate and wall-chart on account opening which will help your child to learn about setting goals and working towards them.
  • Interest Paid – Interest is calculated daily and paid after the close of business on 1st September every year.
  • Manage Your Money – Until the age of 7 the account must be opened in trust for the child, from the age of seven the account can be opened in the child’s name or a parent or guardian can open as a trustee on their behalf when your child turns 11, they can choose to have a card or to access savings through ATM’s and the internet. The account can be opened and managed in branch.

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Interest Rates

 

Flexible Saver for Kids with interest paid annually

Tier

Gross rate p.a./AER

£1 plus  

0.40%    


Because children don't usually have to pay tax, we will normally be able to pay your interest gross. Just complete and return the HM Revenue and Customs R85 form.

 

All rates are variable. For more detailed information on rates please click here.

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Further Information

Read the terms and conditions

 

AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay before income tax is taken off.

 

Rates may vary and effective from 1 April 2009

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