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
|
Children's Regular Saver |
|
Min Investment Amount |
Investment Amount |
Gross (%) |
AER (%) |
Net (%) |
|
£10 per month |
£10 - £250 per month |
1.55 |
1.55 |
1.24 |
|
|
|
|
|
Previous Rates - Children's Regular Saver |
| Rates effective from 1st April 2009 |
Rates effective from 1st April 2009
Net rates assume the lower rate of income tax of 20%. These figures are rounded and are for illustrative purposes only.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded each year.
GROSS: The gross rate is the contractual rate of interest before the deduction of tax at the appropriate rate specified by law. Interest will be paid gross to non-taxpayers subject to the required HM Revenue and Customs certification (R85).