Dylan's Regular Saver Bond

A Dylan's Regular Saver Bond is a great way to encourage a child to save. It can also be used to build savings on their behalf. It may be right for them if they have a regular amount to invest each month that can be left untouched for three years. 

  • Save in branch or by post
  • Save up to £150 a month for three years
  • Minimum initial investment £10
  • Interest is calculated on the daily balance and paid annually
  • Multiple deposits are permitted up to the monthly maximum
  • No withdrawals allowed before the end of the 3 year term
  • Early closure permitted if the child needs access
  • The maximum age for opening this Bond is 17 years
  • Limited availability

Product details

Account name - Dylan's Regular Saver Bond Issue 6

  Interest rate Gross* p.a. AER†
Fixed 3.00% 3.00%
Dylan's Regular Saver Bond is an excellent way to grow savings for a child

If your child wants to start building their savings, a Dylan's Regular Saver Bond is ideal. You can open an account for your child, grandchild, or even a niece or nephew and can manage the account on their behalf as a signatory. Alternatively, if the person you are opening the account for is aged 14 or over they can open an account on their own, provided they have the required proof of identity. In either case, the child will be the account holder, so any money saved belongs to them. The initial investment when opening an account must be at least £10. You can also vary how much you pay in and make more than one payment a month, but the total amount deposited cannot exceed £150 in any month. Once you’ve opened your Dylan's Regular Saver Bond and made an initial investment, you are not obliged to pay into the account every month unless you choose to.

No withdrawals permitted

No withdrawals are allowed. Closure is permitted. Closure or withdrawals at maturity must be for the child's benefit. 

You can open a bond through your local branch or by post

You can apply by visiting one of our branches, or we can send you an application form – it’s your choice. The Bond must be applied for in the name of the child and you will need to complete a Child Introduction Form and provide identification for the child. If the child is aged 14 or over, they can apply for the Bond themselves, though they will need proof of their identity. If you are opening a Bond on behalf of the child, and you are not an existing Principality account holder (for a year or more), we will need proof of your identity. Once opened you can manage your account through one of our branches.

One bond can be opened per child

This offer is limited to one Bond per qualifying customer. The maximum age for opening this bond is 17 years. 

Invest £150 a month to earn £255.12 gross* interest

If you make a £150 cash investment each month, on the same date as your Bond was opened, you will earn £255.12 gross* interest at Bond maturity.

Getting access to your money after three years is easy

You cannot make withdrawals before maturity (3 years from Bond opening). You can close your account if you need to and you will receive interest at the advertised rate calculated on your daily balance from the date of opening to the date of closure. 

Depending on your age at maturity, your balance will be transferred to our Children’s Account or Instant Access Account (see the Account Terms for full details). Prior to maturity we may write to you and inform you of other products available at that time.

Your interest is calculated daily and paid annually

Your interest is calculated daily on the daily balance, so each investment will earn interest from the day it is made (or the second working day following deposit for cheques). Your interest will be added to your account annually on the anniversary of the account opening date.

A free Dylan the Dragon money box when you open your bond

We'll give you a free Dylan the Dragon money box when you open your Bond - to help you save your pennies.

Service Charges and Cost Related Charges may apply to your account, these are outlined in our Tariff of Charges.
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.

Summary information

Summary Box - key product information for our savings account(s)

Account name - Dylan's Regular Saver Bond Issue 6

  Interest rate Gross* p.a. AER†
Fixed 3.00% 3.00%

Interest rate is fixed for 3 years and then reverts to the Children’s Account or Instant Access Account depending on age at maturity (see Account Terms for full details).

Tax status
Interest will be paid gross, which means interest is paid to you without tax being deducted from it. If the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HM Revenue and Customs. For more information please refer to our handy guide to the Government’s new changes to tax-free savings or visit www.gov.uk and search ‘Personal Savings Allowance’.

Conditions for bonus payments
Not applicable.

Withdrawal arrangements
No withdrawals permitted prior to maturity. Closure permitted. Closure or withdrawals at maturity must be for the child's benefit.

Access
You can open and operate the account in branch or by post. 


Service Charges and Cost Related Charges may apply to your account, these are outlined in our Tariff of Charges.
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.

Help & guidance

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Terms & conditions
3 Year Dylan's Regular Saver Bond Issue 6 Terms & Conditions

As the child will be bound by the Account Terms 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:
  • 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

* 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.


savings

Dylan Regular Saver Bond Issue 6