Dylan Advanced Saver
If your child wants to save their money for something special, then our Dylan Advanced Saver may be the account for them. If they can understand that they need to let their savings build up a bit, this account will let them save when they want. But they’ll need to remember they can only take money out once a year.
|Gross* each year
|£1 - £50,000
- Open in branch or agency
- The maximum age for a child opening this account is 15 years
- The account can be opened on a guardian basis or by the child if they are 14 or over
- Pay in from £1 up to the maximum of £50,000
- The child can make one withdrawal each year
- Interest is paid each year on January 1
- Closing the account counts as a withdrawal
Putting money into your savings account Once you've opened your savings account, for most accounts you should pay money in within 5 business days. Click here for information on how you can do that.
Rydym wedi ein cynnwys yng Nghyllun Digolledu'r Gwasanaethau Ariannol.
- Blwch Crynodeb
- Cyfrifo eich cynilion
- Cymorth a chanllawiau
|What is the interest rate?
|4.60% Gross* each year/AER† (Variable)
(See the meanings of ‘Gross’ and ‘AER’ below this summary box.)
Interest is calculated each day on the money in the account and paid on 1st January every year.
|Can Principality change the interest rate?
|What would the estimated balance be after 12 months based on a £1,000 deposit?
This is based on no further money being put in or taken out of the account and no change to the interest rate.
|Sut ydw i’n agor a rheoli fy nghyfrif?
|A gaf i godi arian?
Before you apply, please read the Dylan Advanced Saver Terms & Conditions
- Dylan Advanced Saver Account Terms and Product Summary Information
- Savings Terms and Conditions
Please also read the following:
- 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).
^ Tax-free means UK Income Tax and Capital Gains Tax is not deducted from the interest you earn. This depends on your individual circumstances, and may change in future.
* Gross interest is the rate of interest before income tax is deducted at the rate set by law.
† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid once each year on the whole balance, including previous interest payments.