Children's Savings Accounts
A Children's Savings Account is ideal to get young people into the idea of looking after their money;
Accounts Available
Summary of Children's Savings Accounts Rates
All interest rates are variable unless otherwise stated
|
Moneybox Accounts |
|
Min Investment Amount |
Investment Amount
(Annual Interest) |
Gross p.a. (%) |
AER
(%) |
Net p.a. (%) |
|
£10 |
£10 plus |
0.50 |
0.50 |
0.40 |
|
|
|
Rates effective from 1st September 2010
|
Children's Regular Saver |
|
Min Investment Amount |
Investment Amount
(Annual Interest) |
Gross p.a. (%) |
AER
(%) |
Net p.a. (%) |
|
£10 per month |
£10 - £250 per month |
1.55 |
1.55 |
1.24 |
|
|
| Rates effective from 1st April 2009 |
Interest rates are subject to change from time to time. Changes to our rates are published either in national newspapers or in writing, within 30 days of the effective date.
AER: stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year.
GROSS: The gross rate is the contractual rate of interest before the deduction of tax.
NET: Net rates are shown (rounded to two decimal places) for illustrative purposes after deduction of income tax at 20%.