Young Saver
| Balance: | Gross Interest Rate/AER: | Net Interest Rate: |
|---|---|---|
| £1+ | 1.00% | 0.80% |
| Summary Box Key Product Information for our Savings Accounts | |
|---|---|
| Account Name | Young Savers Account |
| Interest Rates (AER) | Please see interest rates above. |
| Tax Status | Interest is paid net after the deduction of basic rate tax OR Gross without deduction of tax subject to a fully completed R85 form which is available upon request from the Society. If the young person is under 16, either their parent or guardian will be required to complete an Inland Revenue registration form on their behalf. Over the age of 16, the young person is required to take control of their own account and sign their own tax registration form if applicable. |
| Conditions of bonus payment | Not Applicable |
| Withdrawal arrangements | Immediate Access - No notice required or penalties charged for withdrawals |
| Access | Post/Branch |
| General Product Information | |
|---|---|
| Availability | Available nationwide to under 18 Year Olds |
| Minimum Investment | To open a Young Saver Account you need a minimum of £1. |
| Interest | Interest added or paid on 31st December |
