Cyfrif Plant

• Save in branch or by post
• Save from £1 to £25,000
• Interest is calculated on the daily balance and paid annually
• Unlimited withdrawals and closure permitted
• A free Dylan the Dragon money box

• Summary Box
• Calculate your savings
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Summary Box

	Summary Box
Account name	Children's Account
What is the interest rate?	0.70% Gross* p.a. / AER† (Variable) Interest is calculated on the daily balance and paid annually on the 1 January every year.
Can Principality change the interest rates?	Yes, variable account rates could increase or decrease. Customers will be given personal notification of any material reduction in interest rates 60 days before the change takes effect. To understand why rates may be reduced please refer to page 13 and 14 of the Savings Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit?	£1,007 (based on the assumption that no further deposits or withdrawals are made during the 12 months).
How do I open and manage my account?	The account can be opened for a child under 18. The account can be opened and managed on a child's behalf. If the child is over 14, they can open it on their own. If the child is under 14, the account will need to be opened on their behalf. The child will always be the named account holder. The child must be a UK resident for tax purposes to open and operate this account. Open in branch, agency, or by post. Minimum balance is £1, maximum balance is £25,000. When the child reaches 18 years old the account will mature and the balance will be transferred to our Instant Access Account or its nearest equivalent available. Manage in branch, agency, or by post.
Can I withdraw money?	Yes, you do not have to give notice to close your account or make a withdrawal. These withdrawals need to be in the name of the child or be shown to be for the benefit of the child. If the child is under 14, only the signatory can make withdrawals. From the child's 14th birthday onwards, the person or people managing the account can decide to pass control of the account to the child. After this, only the child can make withdrawals.
Additional information	Service charges and costs may apply to your account. These are outlined in our Tariff of Charges. If the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HMRC. For more information visit www.gov.uk/savings-for-children. In certain circumstances we may refuse an instruction to operate an account. These circumstances are outlined on page 5 of the Savings Terms and Conditions. Rates correct as at 16/05/17.

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Savings calculator

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1. 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.
2. The calculations assume interest is paid gross* of income tax on the entire balance on an annual basis
3. 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). 
   

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Guides Read more for top tips on saving and answers to your savings and ISA questions.

Contact us If you would like to speak someone for help give us a quick call. 

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• Sawl cyfrif ISA allaf i eu cael?

Before you apply below, please read the Telerau ac Amodau'r Cyfrif Plant

Gan y bydd eich plentyn yn rhwym i Delerau'r Cyfrif rhaid i chi eu darllen ar ei ran. Os nad ydych yn deall unrhyw un o'r telerau ac amodau cysylltwch â ni i gael rhagor o wybodaeth..

• Telerau ac amodau Cynilo
• Telerau Cyfrif y Plant
• Eich Gwybodaeth

Rydym yn argymell eich bod yn argraffu ac yn cadw copi o'r telerau ac amodau hyn ar gyfer eich cofnodion.

Darllenwch y canlynol hefyd:

    
• Gwybodaeth sylfaenol ynglŷn â diogelu eich adneuon cymwys
• Canllaw Gwirio Electronig
• Tariff Costau

* Gros yw’r gyfradd llog sy’n daladwy yn ôl y contract cyn tynnu treth incwm yn unol â’r gyfradd a ddynodir gan y gyfraith.

† Ystyr AER yw Annual Equivalent Rate (Cyfradd Gyfwerth Flynyddol) ac mae’n dangos faint fyddai’r gyfradd llog pe byddai’r llog yn cael ei dalu a’i adlogi unwaith y flwyddyn.

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