90 Day Smart Saver Children’s Savings Account
A branch based limited access account that can be opened by an adult for children under 18 years old and includes
the reassurance of a Rate Promise to track changes in the Bank of England Base Rate until 1
January 2015.
Key Features
- A rate of 2.10% gross p.a./AER variable
- Make as many withdrawals as you like subject to 90 days' notice or 90 days' loss of interest on
the amount withdrawn
- Make unlimited deposits
- Open your account with at least £100 in any
- When you open any account from our Smart range you'll get exclusive access to offers and competitions with
- Part of our - accounts designed for children to manage their own savings and for parents, friends and family to save for a child's future
Interest Rates
| Balance |
Notice period/loss
of interest for
additional
withdrawals |
Withdrawals
per year |
AER% |
Gross p.a.%
|
Net p.a.% |
| £1+ |
90 days |
Unlimited |
2.10 |
2.10 |
1.68 |
- Rates are variable
- The annual interest rate (AER) is guaranteed to pay 1.60% above the Bank of England Base Rate until 1 January 2015 and will track changes in the Base Rate. Any changes will be made within one month of a Bank of England announcement.
- Maximum 2 account holders, an adult can only hold one 90 Day Smart Saver account per child
- Account may be opened by an adult aged 18 or over on behalf of a child under the age of 18 years
- Interest calculated daily and paid annually on 31 December
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
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).
The tax information provided is based on our current understanding of current law and HM Revenue & Customs practice
which can change.