Cyfrif Plant

• Save in branch, agency 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
• Accounts can be opened on a signatory or trustee basis, for more information click here

• Summary Box
• Calculate your savings
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Summary Box

	Summary Box
Account name	Children's Account
What is the interest rate?	0.95% 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 a minimum of 14 days before the change takes effect. To understand why rates may be reduced please refer to our Savings Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit?	£1,009.50 (based on the assumption that no further deposits or withdrawals are made during the 12 months).
How do I open and manage my account?	The account can be opened for a child who is under 18 years old on a signatory or trustee basis. However, if the child is aged between 14 years and 17 years old, they can open it on their own. For accounts opened on a signatory basis, the child will always be the named account holder. For accounts opened on a trustee basis, the trustee will always be the named account holder. The signatory, trustee and child must be a UK resident for tax purposes. Open in branch, agency, or by post. Minimum balance is £1, maximum investment is £25,000. When the child reaches 18 years old the account will mature and the balance will be transferred to our Instant Access Account or its nearest equivalent available. Manage in branch, agency, or by post.
Can I withdraw money?	Yes, you do not have to give notice to close your account or make a withdrawal. If the account is closed or a withdrawal is made on the child’s behalf, this must be for the child’s benefit. If the child is under 14, only the signatory or trustee can make withdrawals. From the child’s 14th birthday onwards, the person or people managing the account can decide to pass control of the account to the child. After this, only the child can make withdrawals.
Additional information	For accounts opened on a trustee basis: after the child’s 18th birthday, if the beneficiary requests that the funds are transferred to them, then the trustee is obliged to do so. Service charges and costs may apply to your account. These are outlined in our Tariff of Charges. If the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HMRC. For more information visit www.gov.uk/savings-for-children. In certain circumstances we may refuse an instruction to operate an account. These circumstances are outlined in our Savings Terms and Conditions. Rates correct as at 23/08/18.

Calculate your savings

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Savings calculator

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1. 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.
2. The calculations assume interest is paid gross* of income tax on the entire balance on an annual basis
3. 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). 
   

Cymorth a chanllawiau

Guides Read more for top tips on saving and answers to your savings and ISA questions.

Contact us If you would like to speak someone for help give us a quick call. 

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• Sawl cyfrif ISA allaf i eu cael?

Before you apply below, please read the Children's Account Terms & Conditions

As the child, signatory, or trustee will be bound by the Account Terms of the account and their information is held in accordance with our privacy policy, you should read, print and save the below documents for your records. If you have any queries relating to them, please contact us for further information.

• Savings Terms and Conditions
• Children's Account Terms and Product Summary Information
• Privacy Policy

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
• Your Information

^ Tax-free means the interest you earn is exempt from UK Income Tax and Capital Gains Tax. Tax treatment depends on your individual circumstances and may not be maintained in future.

* Gros yw’r gyfradd llog sy’n daladwy yn ôl y contract cyn tynnu treth incwm yn unol â’r gyfradd a ddynodir gan y gyfraith.

† Ystyr AER yw Annual Equivalent Rate (Cyfradd Gyfwerth Flynyddol) ac mae’n dangos faint fyddai’r gyfradd llog pe byddai’r llog yn cael ei dalu a’i adlogi unwaith y flwyddyn.

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