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Flexible Saver for Kids

Earn a rate of 0.50% AER/Gross (variable).

You can save from £1 to £2 million.

If the Flexible Saver for Kids account is held in trust or the child is 7-10 years old…
You’ll have a passbook and will manage the account in branch.

Children aged 11+…
Can use Online Banking, have a card for use in cash machines, and manage their account in branch as long as the account is held in their name and not in trust.

 

Please read the full product details and terms & conditions before applying.
Other accounts are available; see our savings account range to find out more.

 

Interest rates and payments
The interest rate is 0.50% AER/Gross (variable). Interest is calculated daily and paid annually after the close of business on 1 September each year.

Register for tax-free interest on your children's savings account
Children can save up to £10,000 tax-free in the 2014-2015 tax year. Interest is paid net of basic rate income tax unless you register to receive interest gross. For children under 16 the request must be made by the parent or guardian. The tax status will remain valid until the end of the tax year in which the account holder turns 16.

To register, simply speak to a member of staff by visiting your nearest branch or call us on 0800 328 3280.

Parents: the £100 tax-free interest limit explained
Please note that savings made from a parent to a child that produces more than £100 of gross income per year is normally taxed as the parent's income. Any accounts that meet this rule will not be eligible to register for gross interest and the child cannot claim back any tax on that income. The £100 rule applies to each parent separately and it does not apply to gifts given by grandparents, other relatives or friends.

What happens to the account when the child turns 16?
This children's savings account will turn into an Instant Saver with a variable rate of interest following the child's 16th birthday. The account will continue to be held in Trust until the Trustee authorises the ending of the Trust.

The Flexible Saver for Kids account and its interest rates are subject to availability. Rates are variable and effective from 3 June 2013.

Branch
You can visit our extensive Branch network to speak to us.

If the Flexible Saver for Kids account is held in trust or the child is 7-10 years old
You’ll have a passbook and will manage the account in branch.

Children aged 11+
Can use Online Banking, have a card for use in cash machines, and manage their account in branch as long as the account is held in their name and not in trust.
 

Everything you need to know before you apply

We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

To view these documents, you may need to download Adobe Reader.

Please read full product details and terms & conditions before applying.

You can apply for the Flexible Saver for Kids if you:

  • are a child age 7 or above, or a parent or guardian over the age of 18 wanting to open the account in trust

  • are a UK resident

  • have at least £1 to deposit when you open the account

Apply in branch
Book an appointment at a branch convenient to you. Find your nearest branch or call us on 0845 604 8039 to make an appointment.

Lines are open 8am to 9pm Monday-Friday and 8am to 9pm Saturday.

Rates and information correct as at 3 June 2013.

Frequently asked questions

  • To find your savings interest rate you can use our Interest Rate Finder.

     

    If you hold a Fast Access, SIPP Fast Access, Special Reserve, Cash ISA (TOISA), Retirement Investment Account (ANRIA), Santander Shareholder Account, Treasurers Instant Saver or Charity Investment Account, details of your interest rates can be found here.

  • We're sorry to hear that you are thinking about closing your savings account or cash ISA. Please call 0800 9 123 123. Lines open 7am to 11pm Monday to Saturday and 8am-10pm on Sundays.

  • Your bond maturity date can be found on the bond certificate that was issued to you when you opened the account.

  • The easiest way to change your address and contact details (including your telephone number and email address) is to do it via Online Banking. It will be changed instantly.

    If you have a joint account you can only change your own name and/or address within Online Banking. If both names and/or addresses need to be changed, both account holders must log on to their own Online Banking and change their own details.

    You can also change it by telephone or in branch.

    1. Online Banking (instant):

      Log on and update your details instantly from within the "My Details & Settings" tab.

      • Choose 'Change personal details' from the left hand menu and then click 'Change address'.

      • Enter your new details (including postcode) and follow the onscreen instructions.

      • Please note: You will need to enter a One Time Passcode (OTP) to complete this change, so make sure you have your mobile phone to hand.

    1. By telephone (for current account and savings customers):
      • Call our Telephone Banking line on 0800 9 123 123. Lines open 7am to 11pmMonday to Saturday and 8am to 10pmSundays.
    1. In branch:
      • Complete a change of details form by

        • Printing off and completing the Change of details form *

        • Requesting a copy of the form by calling us on 0800 9 123 123. Lines open 7am-11pm Monday to Saturday and 8am-10pm on Sundays.

        • Collect a form from your local branch.

      • Take the form to your local branch together with relevant account documentation:

        • Your cash card, passbook or certificate and;

        • Signature bearing identification such as a full UK driving licence or valid EEA passport (this includes UK passport).

    If you would like to discuss our identification requirements please call us on 0800 9 123 123 and we will be happy to help. Lines open 7am to 11pm Monday to Saturday and 8am to 10pmSundays.

    Important information for customers with alerts: If you have Account alerts set up on your account and you want these to be sent to your updated telephone number and/or email address, then you will need to amend your alerts via the 'Account Services' tab in Online Banking as they are not automatically updated when you change your details.

    * To open these documents you will need to have Adobe Reader. If you don't already have Adobe Reader you can download it for free

  • From 6 April 2015 you can get your interest paid gross (without tax deducted) if your income for the tax year is £15,600 or less. Even if you total income is higher than £15,600, you may still be able to get back some of the tax you have paid on your interest. For more information and to check if you’re eligible to register for gross interest go to www.gov.uk/taxfreesavings.

     

    To register for gross interest, simply visit your local branch or log on to online banking – you can manage this under the 'My Details & Settings' tab. Alternatively call 0800 328 3280, lines are open Mon to Sat 7am -11pm, Sun 9am -10pm.

AER explained
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.

Gross rate explained
The gross rate is the interest rate we pay before income tax is taken off.

Net rate explained
The net rate is the interest rate we pay after deduction of income tax at the rate specified by law (currently 20%). Interest is paid net of basic rate income tax unless you register to receive interest gross.

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Santander UK plc. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England and Wales. www.santander.co.uk. Telephone 0800 389 7000. Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 106054. You can check this on the Financial Services Register by visiting the FCA's website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768. Santander UK plc is also licensed by the Financial Supervision Commission of the Isle of Man for its branch in the Isle of Man. Deposits held with the Isle of Man branch are covered by the Isle of Man Depositors’ Compensation Scheme as set out in the Isle of Man Depositors' Compensation Scheme Regulations 2010. In the Isle of Man, Santander UK plc’s principal place of business is at 19/21 Prospect Hill, Douglas, Isle of Man, IM1 1ET. Santander and the flame logo are registered trademarks.