Family saver
Family saver is our exclusive account for parents with children under the age of 18. To be eligible, a young saver or junior clarets account must already be open or opened at the same time.
Interest rates - Family saver (from 28 October 2009)
| Balance | Gross | AER | Net |
|---|---|---|---|
| £25+ | 0.30% | 0.30% | 0.24% |
| Key features | |
|---|---|
| Interest rates: | See above, rates are variable |
| Tax status: | Interest normally paid net after deduction of income tax or gross subject to certification |
| Conditions for bonus payment: | N/A |
| Withdrawal arrangements: | Instant access, subject to normal operating limits displayed in branch |
| Access: | Branch |
| Minimum opening balance: | £25 |
| Maximum investment: | £10,000 |
| Eligibility: | To be eligible you must be a parent with children under 18. Family Saver is a linked account. A Young Saver or Junior Clarets account must already be open or opened at the same time. |
| Interest payment: | Paid annually on 31 March No interest paid on balances below £25 |
|
Payment account: |
No |
To view the general savings account terms & conditions, please click here
Gross means the contractual rate of interest payable not taking account of the deduction of income tax at the appropriate rate.
Net rates are illustrative only and allow for deduction from gross rate 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.
Tax Free is the contractual rate of interest payable where interest is exempt from income tax.
