Designed exclusively for children to encourage them to save regularly
Exclusively for children to encourage saving for their future.
Invest between £10 and £100 each month
2 withdrawals allowed per annum (up to 31 March for branch accounts or 30 April for direct accounts). The account will be closed on 3rd withdrawal.
Minimum Investment
£10
Product Type
Children's Accounts
Interest paid
Annually on 31 March for branch accounts or 30 April for direct accounts
Summary Box Key Product Information for our Savings Account(s)
Account Name
Acorn Regular Savers
Interest rates (AER's)
Tier
Annually
Monthly
AER
Gross
Net
AER
Gross
Net
£10 - £1,000,000
1.00%
1.00%
0.80%
N/A
N/A
N/A
Effective Date
06/03/2009
Variable
Tax Status
Gross / Net
Conditions for bonus payment
N/A
Withdrawal arrangements
There is no notice period or charge for withdrawal (subject to branch cash withdrawal limits). There is no charge for up to two withdrawals in an account year (1 April to 31 March for branch accounts or 1 May to 30 April for direct accounts) - a third withdrawal will result in closure of the account.
Access
At a branch / by post / by telephone
Gross means without UK income tax deducted Net means the rate of interest which would be payable after allowing for deduction of income tax at the specified rate i.e. assuming rate of income tax at 20%. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Rates are illustrative only and have been rounded to two decimal places. Tax-Free is the contractual rate of interest payable where interest is exempt from income tax.
