Savings for Under 18s
|
Gross* |
AER† |
Includes bonus |
Minimum to open |
Withdrawal notice |
More details |
| Dylan Regular Saver Bond Issue 3 |
4.50% |
4.50% |
N/A |
£10 |
Not permitted |
More about this product |
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.
- Fixed interest rate
- Interest is calculated daily and paid on Maturity
- Invest from £10 to £150 per calendar month for a 12 month period
- If a monthly investment is missed you will receive the rate of interest paid on the Children's Account
- If you make a £150 cash investment into your Bond each month on the same date as the date your Bond was opened you will earn £43.88 gross* interest at Bond Maturity.
- Closure permitted
|
| Children's Account |
0.90% |
0.90% |
N/A |
£1 |
None |
More about this product |
Our Children's Account is the ideal way to start saving for your child's future, because it makes saving both enjoyable and rewarding.
- Variable rate.
- Account only available to persons under 18 years old.
- Minimum balance is £1. Maximum contributions are £25,000.
- Matures on the child's 18th birthday. On maturity the account will be transferred into Instant Access Savings Account (or equivalent).
|
* 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 were paid and compounded once each year.
# Net is the rate of interest payable after the deduction of income tax at the rate specified by law.
Child Savings with Dylan Regular Saver Bond
Child savings is easy with a one year Dylan Regular Saver Bond. Watch your child savings grow with a fixed interest rate of 4.50% Gross*p.a./AER†. It is quick and easy to open an account at your local Principality branch and you can make deposits by cash, cheque or standing order, you will also receive a Dylan the Dragon money box. You must make a deposit every month for a year. You can deposit between £10 and £150 per month. Make as many deposits as you want each month provided the monthly amount does not exceed £150. No withdrawals are permitted for the first year and interest is paid on maturity of the bond. If you make a £150 cash investment into your bond each month the same day as it was opened you will earn £43.88 gross interest at Maturity.
Children’s Account
If you want to save your Christmas or birthday money, or you want to save part of your pocket money each week, a Children’s account allows you to save as often and as much as you like. It is also gives you access to you money whenever you need it. You can withdraw a minimum of £1 or a maximum £500 cash or £25,000 by cheque. Plus you get a free Dylan the Dragon money box and personal passbook so you can watch your child savings grow. Interest is calculated daily and paid annually on 1 January each year. The interest rate is variable.
