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Children’s Instant Saver – Issue 1

Start saving for their future today

Set aside savings for your children – as much as you want, whenever you want.

  • 1.51% AER/1.50% gross pa 1 variable
  • Instant access to your money – through online, mobile and telephone banking or in branch 2
  • Open with £1

Account information

Account name

Children’s Instant Saver - Issue 1

What is the interest rate?

Interest rates for balances of £1+, effective from 12 November 2012.

Balance

Gross rate pa %

AER %

£1+

1.50

1.51

Balance

£1+

Gross rate pa %

1.50

AER %

1.51

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

Can Barclays change the interest rate?

Yes, rates are variable. The interest rate on our Children's Instant Saver - Issue 1 will never fall below 1.50% gross p.a. (1.51% AER).

What would the estimated balance be after 12 months, based on a £100 deposit a month?

Deposit amount

Estimated value after a year

£1+

£1,209.83

Deposit amount

£1+

Estimated value after a year

£1,209.83

How do I open and manage my account?

You can open an account in branch. Please see the ‘How to apply’ section below for more details.

You can manage your account in branch, or using Online Banking, Barclays Mobile Banking or Telephone Banking – provided you’re registered.

You can open this account with £1 – there’s no maximum balance.

Eligibility

To apply for this account, you must:

  • Be at least 18 to save for the benefit of a child under 18. The adult operates the account as trustee for the child
  • Be resident in the UK for tax purposes

Can I withdraw money?

Yes, instant access. 

Additional information

After the child reaches 18, we’ll convert the account to an adult instant access account. Before doing so, we’ll contact you to tell you the terms that will apply to the instant access account – unless you advise us otherwise.

Terms and conditions

Download our Children’s Instant Saver terms and conditions 110 KB for additional information.

How to apply

You can apply for this account in branch with your child's birth certificate. If you're new to Barclays, you'll also need to provide proof of ID .

More ways to save

If the Children's Instant Saver isn't what you're looking for, we have other options for you to consider.

Bonds

Bonds

If you’re serious about saving, you can put your money away in one of our bonds for a fixed rate of return.

Everyday Saver

Everyday Saver

Save whenever you want, for as long as you want, with our Everyday Saver account.

 

ISAS

Cash ISAs

Take advantage of tax-free savings while having access to your money. 4

 

Important information

1. ‘Gross’ is the rate payable without tax taken off. AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year.

2. Online, mobile and telephone banking are only available to Barclays current account holders who are registered for these services.

3. Please note: 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.

4. Tax-free: indicates that interest is exempt from UK income tax provided all ISA conditions are met. The level and basis of tax can change and the value of tax relief depends on your personal circumstances.