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||0.30%||0.30%|
- Due to the latest government guidance, from Monday 26th October to the 8th November, we will be unable to conduct any branch appointments for savings account openings in Wales.
- 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
- Help & guidance
|Account name||Children's Account|
|What is the interest rate?||0.30% 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?||£1,003 (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
- Savings Terms and Conditions
- Children's Account Terms and Product Summary 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
- Your Information
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.
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