Our Learner Earner account can only be opened in branch or agency. We’ve set it up this way because it’s designed to help children learn why they should save, through fun activity packs, a story book and stickers, a moneybox, and the experience of visiting their local branch regularly to deposit money.
|Interest rate||Balance||Gross* p.a.||AER†|
|Variable||£1 - £20,000||4.00%||4.00%|
- This account can only be opened in conjunction with an adult aged over 18
- Learner Earner Accounts for children can only be opened on a signatory basis, for more information click here
- Save in branch, agency or by post
- Save up to £250 a month per account
- Minimum initial investment £1, maximum balance is £20,000 per account
- Interest is calculated on the daily balance and paid annually
- Multiple deposits are permitted up to the monthly maximum
- Three withdrawals permitted per calendar year
- The maximum age for the child opening this account is 17, the minimum age of the adult is 18
- Limited availability
- Summary Box
- Calculate your savings
- Help & Guidance
|Account Name||Learner Earner|
|What is the interest rate?||4.00% Gross* p.a / AER† (Variable)
Interest is calculated on your daily balance and paid annually on 1 January every year.
|Can Principality change the interest rate?||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 £3,000 deposit?||£3,065.00 (based on 12 monthly deposits of £250, the first being made at account opening and the remaining 11 on the same day each calendar month, and on the assumption that no withdrawals are made).|
|How do I open and manage my account?||
|Can I withdraw money?||
Before you apply, please read the Learner Earner Terms & Conditions
- Savings Terms and Conditions
- Learner Earner 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
- 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).
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