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Family Young Saver

Why families love our Family Young Saver Account:

Open this account for your child. The account can be opened in your child's name, if they are aged 7 or over. It can also be opened on a trustee basis by a parent, guardian or grandparent.

A great rate. This will be a variable rate which will be no lower than 0.5% below the Bank of England Base Rate until 1st January 2010.

Designed to be easy to use. Money can be withdrawn at any time, without notice or loss of interest. A cash card is available to young people aged 13 and over

It's flexible You need just £1 to open this account. You can invest your money when you want, and withdraw it when you want.

 

 

Family Young Saver

Get your kids off to a good start by opening a Family Young Saver Account. Parents, grandparents or guardians can open this account for a child with as little as £1. It's a great way of getting a young person off to a good start in life. Even better, they get an attractive rate.

Family Young Saver Product Information

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Interest Rates - Rates effective 23/12/08
 
Interest4
gross p.a.1
Net after tax2
AER3
Family Young Saver
£1 and over 2.75% 2.20% 2.75%
       

 

1. AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. 2. In year two the rate becomes variable. 3. A bonus will be paid on each anniversary of the date the account was opened as long as you have made 12 consecutive monthly payments into the account, and no more than one withdrawal from it during that year. 4. The rate paid before the deduction of tax applied to interest on savings. Family Young Saver interest is paid annually on the 1st January.

Find out more about the Norwich and Peterborough Child trust fund