Interest is calculated on a daily basis and is paid on the last business day of each calendar quarter. The rate of interest on this account is tiered. You will earn one rate based on your account balance.

This is only an example and does not take into account your individual circumstances.

The examples assume that:

• no further deposits or withdrawals are made;
• any interest earned stays in the account; and
• there is no change to interest rates and tiers.

This is an account for children aged from 6 to 16. If children are over 11 years of age, they can open and operate the account in their name provided their parent, guardian, grandparent or other responsible adult agrees. If children are under 11, the account can be opened in their name and operated by their parent, guardian, grandparent or other responsible adult. Children can have their own dual-function card (acts as a debit card to buy goods and services and for use at ATM’s) when they are 11, providing their parent, guardian, grandparent or other responsible adult agrees.

The account can be opened in branch. The minimum amount to open and maintain the account is £1.

Yes, the controlling adult or child if consent has been given to allow the child to operate the account may withdraw funds by using internet/telephone banking/Mobile Banking Service/ATM or in branch. There is no notice period.

Interest will be paid gross.

Gross rate interest is the interest payable without taking account of any tax payable.

AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.