Give someone small a big start
Whether you are a parent, grandparent, friend or other relative, you can give
the children in your life a financial head start by opening a savings account
on their behalf.
Summary box
Key product information for this account
|
| Account name: |
Child 50 Day Notice Savings Account |
| Interest rates (AERs): |
Tiered rates from 1.48% - 2.12% variable gross pa/AER.
See all rates. |
| Tax Status: |
Interest will be paid gross subject to completion of a R85 tax form. |
| Conditions for bonus payment: |
Not applicable to this type of account. |
| Withdrawal arrangements: |
50 clear days' notice is required before withdrawing funds. You will be charged a penalty of 50 days' gross interest on the amount withdrawn if you do not give us 50 clear days' notice of withdrawal. |
| Access: |
Enjoy easy access to your money over the phone 8am-6pm Mon-Fri, or make transactions
at a time that suits you with our online service. |
Extra benefits
To apply, call us on 08457 55 56 57, Mon-Fri 8am-6pm (call charges may vary).
The Facts
- Rates correct as at 12 March 2009.
- Child savings account holders must be over 16 and resident in the UK. The
child must be under 16 years old.
- Withdrawals sent by electronic transfer via your external account will normally
take 3 working days.
- 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.
- For all accounts, you can choose whether interest is to be paid monthly or yearly.
- An R85 tax form must be completed for each Child Savings account in order to receive the interest paid gross. A copy of this form will be included in your Welcome Pack.
- The favourable tax treatment of child savings accounts is not guaranteed to continue in the future.
- The interest payable in relation to savings accounts depends on the individual circumstances of each customer and may be subject to change in the future.
- Standard Life Cash Savings savings accounts are covered by the Financial
Services Compensation Scheme.
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