A good way to start saving for your child's future, making saving both enjoyable and rewarding.
|Interest rate||Balance||Gross* p.a.||AER†|
|Variable||£1 - £25,000||0.70%||0.70%|
- 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
- Help & guidance
|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?||
|Can I withdraw money?||
- 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.
- The calculations assume interest is paid gross* of income tax on the entire balance on an annual basis
- 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).
Before you apply below, please read the Children's Account Terms & Conditions
As the child will be bound by the Account Terms of the account, you must read them on their behalf. If you do not understand any of the terms and conditions please contact us for further information.
We recommend that you print and keep a copy of these terms and conditions for your records.
Please also read the following:
- Basic information about the protection of your eligible deposits
- Electronic Verification Guide
- Tariff of Charges
- 6th largest UK building society
- A mutual building society, owned by and run for the benefit of our 500,000 members
- Over 150 years experience
- Taking care of over £8 billion of our customers' assets
We are covered by the FSCS
Find out more about what it means for you.