Child Savings Bond
An Investment for the future
- An ideal gift for any child aged 0 - 16 years
- Interest is payable annually and at maturity
- The rate is fixed for the term quoted
- View summary of key information
With a healthy and attractive interest rate, opening a Child Savings Bond means you are investing not only money but in your child’s future. It is guaranteed to increase in value if it’s held for the full five years and although you can’t add to a Child Savings Bond, you can enjoy the joy of knowing that you are investing in savings that grow along with your child.
How to apply
- Visit your local Yorkshire Bank branch
What you get
A guaranteed Investment that returns more
- Minimum deposit of £50
- Maximum deposit is £250,000
- An ideal gift for any child aged 0 - 16 years
- Guaranteed to grow if held for the full five year term
- At the end of the five year term money can be re-invested or withdrawn
- Gross* interest for under 16s if an R85 form is signed by the parent or guardian
- Once open, no further deposits can be made to a Child Savings Bond
- Withdrawals from the Child Savings Bond are not permitted until the account reaches the end of its five year term. An early repayment charge will apply#.
Other savings accounts
- Instant Savings Account - easy access to your money whenever you need it
- Savings Account Plus - let your savings provide a healthy return
- Term Deposit - hold your account for the full term and you'll receive a guaranteed rate
- 40 Day Notice Account - Save as much as you like and when you need to withdraw your savings just give 40 days notice
- Cash ISA - a great way to watch your money grow, tax-free
- Stocks and Shares ISA - make the stock market work for you
- Cybersave - start early and help your child manage their money
- Child Trust Fund - put your child’s savings into overdrive, open a Child Trust Fund today
A minimum deposit of £50 is required to achieve the quoted rate. Interest is payable annually and at Maturity and the rate is fixed for the term quoted.
#If an early withdrawal of the full amount is requested before the term of 5 years, the stated interest rate will not be achieved. Such a withdrawal will be subject to an early repayment charge (£10 minimum charge) the amount is dependent on the number of days to Maturity. Ask at any branch for details. Full Terms and Conditions are available on request. The charge will be deducted from any accrued interest, but where there is insufficient accrued interest to meet the charge in full, any additional sum will be deducted from the capital in the account. No partial withdrawals are permitted.
*Gross Rate interest is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the lower rate prevailing at the time of payment (currently 20%).
Full Terms and Conditions are available on request. The Child Savings Bond is only available to children aged 0 - 16 years inclusive.
Yorkshire Bank is a trading name of Clydesdale Bank PLC which is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. You may be entitled to compensation from the Scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
In respect of deposits with a UK office, payments under the Scheme are limited to 100% of the first £50,000 of a depositor's total credit balances with the Bank. Further details of the Scheme are available from us on request or from the Financial Services Compensation Scheme: http://www.fscs.org.uk/ or Financial Services Compensation Scheme, 7th Floor, Lloyds Chambers, Portsoken Street, London, E1 8BN.