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Children's Instant Saver Issue 1

Current interest rates

The interest rate on Children's Instant Saver Issue 1 will never fall below 1.50% gross
pa (1.51% AER)

Rates effective from

Balance

Gross rate pa%

AER%

19 November 2012 - present

£1+

1.50

1.51

 

 

 

Rates effective from

19 November 2012 - present

Balance

£1+

Gross rate pa%

1.50

AER%

1.51

Rates effective from

 

Balance

 

Gross rate pa%

 

AER%

Previous interest rates

Rates effective from

Balance

Gross rate pa%

AER%

19 November 2012 - present

£1+

1.50

1.51

Rates effective from

19 November 2012 - present

Balance

£1+

Gross rate pa%

1.50

AER%

1.51

Mortgage offset:

No

Interest rate:

Rates are variable. Interest is paid monthly on the first working day of the month.

Gross:

The rate of interest payable without tax taken off.

Tax:

Interest is paid gross. Children are entitled to income tax allowances and the Personal Savings Allowance (PSA) in the same way as adults. If a child is liable to pay tax, any tax due on interest earned will need to be paid to the appropriate tax authority.

For further information & guidance, please refer to HMRC’s website

Please note that if a parent gifts money to a child that produces more than £100 gross interest in a tax year, the income is normally taxed as belonging to the adult.

AER:

Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded once each year.

Terms and Conditions 110 KB

These additional terms and conditions supplement and amend the general conditions of your  Customer Agreement with us (Barclays Bank PLC). Read  important information about our interest rates, the Financial Services Compensation Scheme and your cancellation rights.