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Our Smart instant access account is a great way for under 18s to start saving
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Part of our range of accounts designed for children to manage their own savings and for parents, friends and family to save for a child's future. Smart is a variable interest rate account, simple to use and can be opened with just £1.
Eligibility criteria apply. Additional conditions apply for online applications†
Effective from 01 April 2009
Rates are variable.
You can apply online or open in a Nationwide branch.A passbook is not provided if you apply online.
Check balance and statements:
If you close this account before your term ends, you'll lose an amount of interest called the early access charge.
If you haven't earned enough interest to cover the early access charge, it'll be taken from the funds in the account.
You can find more details in the terms and conditions.
Please read the terms & conditions and product information before you apply
Protecting your money
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
** AER includes conditional bonus (if applicable)
The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
The net rate of interest is the interest payable after any income tax is deducted (if you do pay tax).
Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.
Interest is paid net of basic rate tax, depending on your status.
* Interest is added to your Smart account twice a year on 30 June and 31 December.
1 if the account is opened by a child (aged 7 and over)2 if the account is opened by an adult on behalf of the child
Between the ages of 0 and 16, the account can be opened by an adult aged 18 or over and managed on behalf of the child.
Between the ages of 7 and 18 the child can open and operate the account themselves.
If opened in branch you will receive a passbook which will provide a record of transactions.A statement will be sent to you annually.Full statements are available on the Internet Bank.
Interest is added to your Smart account twice a year on 30 June and 31 December.
Please make sure you've read the terms and conditions before applying
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