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Junior BarclayPlus

This account is no longer available to new customers.

Current interest rates

Rates effective from

Balance

Gross per year %

AER %

28 July 2020

£1+

1.50

1.51

£10,000+

0.01

0.01

Interest rates on the Junior BarclayPlus account are banded. This means you’ll earn 1.50% interest on the first £10,000 of your balance, and 0.01% on your additional balance over £10,000

Previous interest rates

Rates effective from

Balance

Gross rate per year %

AER %

1 October 2019 - 27 July 2020

£1+

2.00

2.02

£10,000+

0.30

0.30

Further information

Interest rate:

Rates are variable. Interest is calculated daily using the cleared balance and is paid quarterly on or around 13 March, 13 June, 13 September and 6 December each year.

Interest rates on the Junior BarclayPlus account are banded. This means you’ll earn the higher rate of interest on the first £10,000 of your balance, and the lower rate on the additional balance over £10,000.

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.

Read the general conditions of your Customer Agreement with us. Read important information about our interest rates, the Financial Services Compensation Scheme, and your cancellation rights.