Our children's account may be a good way to introduce your child to the idea of saving, helping them to see it as both enjoyable and rewarding. If they want to save when it suits them, and would like the comfort of knowing they can take their money out whenever they need to, this account may be right for them.
|Interest rate||Balance||Gross* each year||AER†|
|Variable||£1 - £25,000||0.85%||0.85%|
- Open in branch, agency or by post
The maximum age for a child opening this account is 17 years.
The account can be opened as a signatory or trust account. For more information click here.
Pay in from £1 to £25,000.
Interest is paid each year on 1 January.
Take money out whenever your child needs it.
You can close this account at any time.
We can stop accepting applications at any time.
- Summary Box
- Calculate your savings
- Help & guidance
|What is the interest rate?||0.85% Gross* each year / AER† (Variable)
(See the meaning of 'Gross' and 'AER' at the bottom of this page.)
Interest is calculated each day on the money in the account and paid on 1st January every year.
|Can Principality change the interest rates?||
|What would the estimated balance be after 12 months based on a £1,000 deposit?||£1,008.50
This is based on no further money being put in or taken out of the account and no change to the interest rate.
|How do I open and manage my account?||
|Can I withdraw money?||
- The results displayed were dependent on the information you provided and are for illustrative purposes only and are by no means an indication of being suitable for your individual circumstances.
- The calculations assume interest is paid gross* of income tax on the entire balance on an annual basis
- It has been assumed that no withdrawals or additional deposits would be made from the account during the saving duration, and that the interest rate also remains the same during this time (note that interest rates on variable rate savings account are subject to change, and when fixed rate deals end, there is no guarantee that the same rate will be available in the future).
Before you apply, please read the Children's Account Terms & Conditions
- Children's Account Terms and Product Summary Information
- Savings Terms and Conditions
We recommend that you print and keep a copy of these terms and conditions for your records.
Please also read the following:
- Basic information about the protection of your eligible deposits
- Electronic Verification Guide
- Tariff of Charges
- Your Information
Putting money into your savings account Once you've opened your savings account, for most accounts you should pay money in within 5 business days. Click here for information on how you can do that.
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