Accounts for children
Interest rates
Rates correct as at 18th January 2010 but are subject to variation unless otherwise stated
The following sum shows how interest is calculated:
Daily Cleared Balance x Gross Annual Rate / 36500 = Daily Gross Interest
All previous interest rates are shown in small type and brackets below the current interest rates.
Bonus account
| Gross% | AER% | Interest Credited | |
|---|---|---|---|
| £1 - £999 |
0.25 (0.12) | 0.25 (0.12) | Interest paid gross annually*. A bonus is paid on the Bonus Account if average balance is £50+. Bonus is £2 for account holders up to 12 yrs of age and £10 13-18 yrs. |
| £1,000 - £4,999 | 0.25 (0.15) | 0.25 (0.15) | |
| £5,000+ | 0.25 (0.25) | 0.25 (0.25) |
Future Fund
| Gross% | AER% | Interest Credited | |
|---|---|---|---|
| £1 - £999 |
0.25 (0.12) | 0.25 (0.12) | Interest paid gross annually*. |
| £1,000 - £4,999 | 0.25 (0.15) | 0.25 (0.15) | |
| £5,000+ | 0.25 (0.25) | 0.25 (0.25) |
* provided account holder is eligible and form R85 is completed
