Young Saver's Accounts...'growth in my savings'

KIDZ Account

A great opportunity to help your children understand the real value of money and saving. If your child is under 11 years old, this is the ideal savings account for them.

Features & Benefits

• Attractive interest rate 2.00% gross*
• Interest paid annually on 31 March
• Open with just £1
• Instant access
• Statements every 6 months
• Music or Book Voucher for the value of £10.00
• Birthday card
• Maximum investment £10,000

It is never too early to start a child's savings account.....Help them save for their future.

TEENZ Account

If you are over the age of 11 and you want to save your spare cash, then this is the ideal account for you.

Features & Benefits

• Attractive interest rate 2.00% gross*
• Interest paid annually on 31 March
• Open with just £10.00
• Instant access
• Statements every 6 months
• Online Banking
• Music or Book Voucher for the value of £10.00
• Cash card from the age of 13 (subject to application)
• Maximum investment £20,000

For non customers, please provide us with the relevant documentation as listed in our "Proving your identity" leaflet.

Important Information

* If, as a parent, you give your child a gift of money that produces more than £100 gross interest a year, the income will normally be taxed as yours.

For children under the age of seven, the account is managed by the parent or guardian. If you decide after their 7th birthday you wish to transfer the account to their sole name you must request this in writing.

The majority of children do not pay tax on the interest earned from their savings, entitling them to gross interest. You need to complete a Revenue and Customs R85 form for your child to receive this benefit.

For further information visit www.hmrc.gov.uk 

Interested?

Download the application form below, which is in a PDF file format, or call us and we will send you all the information you need to apply for a KIDZ or TEENZ account. To ensure we receive all the correct documentation please refer to the "Proving your identity" brochure and details on the application form.