Child Saver account

Children grow up fast. This exclusive rate could help their savings keep up.

This account is exclusive to Freestyle Mortgage customers. And it means that when you save for a little one, you can enjoy an exclusive interest rate of 4.95% gross p.a./AER variable.

Rates

The full rates for this account can be found below. Interest is paid yearly, however you can also choose to have your interest paid monthly.

Looking for historical rates? Call up the previous rates here

So, no matter how fast children grow up, at least you'll know that their savings will be growing too.

It could help to pay for their university fees. Or maybe go towards a deposit for a new home. Whatever it's for, some additional cash is sure to give them the head-start they need.

The facts

• Gross means the rate of interest paid without the deduction of tax, if applicable
• AER means the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year
• Account holders must be resident in the UK
• Available only in single name opened as a Child account for a minor under 16
• Only one Freestyle Child Saver Account per child
• You may deposit a maximum of £5,000 into a Freestyle Child Saver account in any Anniversary Year (i.e. from the effective date of the initial deposit). Should deposits exceed the limit of £5,000, the excess amount will be transferred to another account of your choice or your designated bank account.
• Withdrawals can be made and replaced but not exceed the maximum deposit limit of £5,000 in any Anniversary Year
• For the child to qualify for tax relief you must complete an R85 form, which we can provide. No interest will be paid on deposits above the £5,000 limit
• Withdrawals sent by electronic transfer via your external account will normally take 3 working days. In exceptional cases we may permit same day withdrawals, but we will charge a fee for this, currently £28
• A Freestyle Child Saver Account must be closed if the Freestyle Mortgage is redeemed and a new Freestyle Mortgage is not taken out within 90 days
• Offers may be withdrawn or amended at any time
• Rates are correct at 22 October 2008.