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. Interest rate fixed for one year from the date of Account opening. 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.
Interest rate fixed for one year from the date of Account opening.
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 2
Interest Rate (AER)	AER**	Gross*	Net#
Interest Rate (AER)	4.50%	4.50%	3.60%
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		Maximum
Opening deposit	£10		£150
Monthly deposit	£10		£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 on the daily balance and added to the Account on maturity. ^ The opening amount (first month’s payment) must be made by cash or cheque. Monthly investements by cash, cheque or standing order required. If a monthly investment 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 payment they must leave the paying account on or before the 20th of the month. If a payment is missed as a result of your failure to complete and arrange a standing order mandate with your Bank or as a result of any error on your Bank's part, that payment will be treated as a missed payment. Where your Bank can show that the error was made by us we will not treat it as a missed payment. Limited to one Account per 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. Tax treatment depends on individual circumstances and may change in future. ^If you make a £150 cash investment into your Account each month on the same date as the date your Account was opened you will earn £43.88 gross interest at Maturity.

Additional Information

The Account must be applied for in the name of the child.
Interest is calculated on the daily balance and added to the Account on maturity. ^
The opening amount (first month’s payment) must be made by cash or cheque.
Monthly investements by cash, cheque or standing order required.
If a monthly investment 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 payment they must leave the paying account on or before the 20th of the month. If a payment is missed as a result of your failure to complete and arrange a standing order mandate with your Bank or as a result of any error on your Bank's part, that payment will be treated as a missed payment. Where your Bank can show that the error was made by us we will not treat it as a missed payment.
Limited to one Account per 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. Tax treatment depends on individual circumstances and may change in future.

^If you make a £150 cash investment into your Account each month on the same date as the date your Account was opened you will earn £43.88 gross interest at Maturity.

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 Principality

Dylan's Regular Saver