| Gross Rate | Gross Rate | AER | |
| Excluding Bonus | Including Bonus | ||
| £50 | 4.00% | 4.00% | 4.00% |
| Application Criteria | ||||
| Permanent UK Resident | yes | This product is only available to individuals who are permanent UK residents. | ||
| Existing Customer Only | no | No | ||
| Minimum Initial Investment | £50 | The minimum investment to open this account is £50. | ||
| Minimum Age | 0 years | The minimum age to open this account is 0 years. | ||
| Maximum Age | 16 years | The maximum age is 16 years. | ||
| Introductory Rates | ||||
| Introductory Bonus | 0% | No introductory bonus payable. | ||
| Rates | ||||
| Rate Type | fixed | The type of interest rate is fixed. | ||
| Account Term | 5 years | The account term is 60 months. | ||
| Headline Interest Rate | 4% | The headline interest rate is 4.00% AER. | ||
| Rate Tiers | see details | Gross Rate Gross Rate AER Excluding BonusIncluding Bonus £504.00% 4.00%4.00% ...expand | ||
| Tax Free | no | This product is not tax free. | ||
| Fixed Interest Rate | yes | The interest rate is fixed. | ||
| Interest Payment Frequency | annually | Interest is paid annually. | ||
| Fixed Rate Period | 5 years | The interest rate is fixed for 5 years. | ||
| Fixed Term | 5 years | The fixed term is for 5 years. | ||
| Step-Up Bond | no | The interest rate does not increase at fixed intervals. | ||
| Children's Savings | ||||
| Children's Savings Account | yes | yes | ||
| Account Access | ||||
| Account Type | Fixed Bond | Fixed Bond | ||
| Limited Issue | no | This account is not a limited issue. | ||
| Opened Online | no | Account cannot be opened by internet. | ||
| Online Access | no | Not applicable - No transactions before maturity. | ||
| Opened at Branch | yes | Account can be opened at branch. | ||
| Branch Access | yes | Transactions at a branch are allowed. | ||
| Opened by Phone | no | Account cannot be opened by phone. | ||
| Phone Access | no | Not applicable - No transactions before maturity. | ||
| Opened by Post | no | Account cannot be opened by post. | ||
| Postal Access | no | Not applicable - No transactions before maturity. | ||
| Closure Before Maturity | no | Closure not permitted before maturity. | ||
| Penalty or Notice on Account Closure | no closure during term | Closure not permitted before maturity. | ||
| Account Management | ||||
| Minimum Balance | £50 | The minimum balance is £50. | ||
| Additional Deposits | no | Additional deposits can not be made during the term of this account. Additional deposits will be accepted at maturity if the funds are to be reinvested for a further term. | ||
| Withdrawal Conditions | yes | Withdrawal Conditions - No withdrawals or closure permitted before maturity. | ||
| Transferred on Maturity | reinvested for same term | If no instructions are received 3 business days before the maturity date, the balance of the account will be reinvested for the same fixed term at the interest rate applicable at that time. | ||
| Additional Information | none | There is no additional information. | ||
| Available to Trustees | no | This account is not available to trustees. | ||
