Dylan's Regular Saver

A child's savings account is a great way to give children a solid financial start in life and it doesn't take a lot to get into the habit of saving regularly. That is why our Dylan's Regular Saver account – available for anyone under the age of 16 – could be what you're looking for.

What does Dylan's Regular Saver offer?
A great and easy way for a child to save money. Competitive fixed rate of interest on their regular savings. Invest up to £1,800 over a 12 month period. The account must be applied for in the name of the child. Apply Now

What does Dylan's Regular Saver offer?

A great and easy way for a child to save money.
Competitive fixed rate of interest on their regular savings.
Invest up to £1,800 over a 12 month period.
The account must be applied for in the name of the child.

Apply Now

Summary Box - Key Product Information for our Savings Account(s)
Account Name	Dylan's Regular Saver Bond Issue 1.
Interest Rate (AER)	AER**	Gross*	Net#
Interest Rate (AER)	5.00%	5.00%	4.00%
Tax Status	Children don’t normally have to pay tax on their savings but you will need to complete an R85 form on your child’s behalf, and provide it to us, for them to receive interest tax free.†
Conditions for bonus payment	Not applicable.
Maximum Age	16.
Minimum Opening Deposit	£10.
Maximum Opening Deposit	£150.
Minimum Monthly Deposit	£10.
Maximum Monthly Deposit	£150.
Withdrawal arrangements	No withdrawals permitted prior to date of maturity.
Closure	Closure Permitted.
Access	In Branch/Post.

Additional Information
The account must be applied for in the name of the child. Interest is calculated daily and paid on maturity. Interest is added to the Account. The opening amount (first month’s payment) must be made by cash or cheque. Monthly payments can be made by cash, cheque or standing order. If a payment is missed the Account will revert to a Children’s account and will be subject to the terms of that Account. If monthly payments are added to the Account by standing order payments must leave the account on or before the 20th of the month. If a payment is missed as a result of the customer’s failure to complete and arrange a standing order mandate with their bank or as a result of any error on the part of the customer’s bank, the payment will be treated as a missed payment. One account permitted per eligible child. Matures into a Children's Account. * Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. ** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time. # Net is the rate of interest payable after the deduction of income tax at the rate specified by law. † Tax free means free of income tax.

Additional Information

The account must be applied for in the name of the child.
Interest is calculated daily and paid on maturity.
Interest is added to the Account.
The opening amount (first month’s payment) must be made by cash or cheque.
Monthly payments can be made by cash, cheque or standing order.
If a payment is missed the Account will revert to a Children’s account and will be subject to the terms of that Account.
If monthly payments are added to the Account by standing order payments must leave the account on or before the 20th of the month. If a payment is missed as a result of the customer’s failure to complete and arrange a standing order mandate with their bank or as a result of any error on the part of the customer’s bank, the payment will be treated as a missed payment.
One account permitted per eligible child.
Matures into a Children's Account.

* Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.

# Net is the rate of interest payable after the deduction of income tax at the rate specified by law.

† Tax free means free of income tax.

To open an account you'll need:

To complete a child introduction form.
If you don't already have a Principality account, we'll need proof of your identity.
A minimum of just £10 (a maximum investment of £150).
Your child's birth certificate.
If you've been a member of the Principality for more than a year, please bring evidence of your signature and a signed letter with your name and address, explaining what relation the child is to you – e.g. son, daughter, niece, nephew, grandson.
If you don't already have a Principality account, we'll need proof of your identity.
If your child is aged 14 or over, they can come into their local Principality branch and open a Children's Account on their own, providing they have the required proof of identity. Our staff will be delighted to help them and answer any questions.

If you have any difficulty providing the required documentation then please contact us. You can also set up a standing order for regular payments to be made to the account.

Welcome to the Principality

Dylan's Regular Saver