Nottingham BS has launched Issue 8 of its popular Children's Regular Saver account paying 5.00% yearly, one of the best rates in the market. The branch based fixed term regular savings account matures 15 April 2010, but funds can be accessed instantly and there's no penalty for withdrawals. A minimum monthly investment of £10 is needed (maximum £100) while additional payments can be made, up to the £100 maximum. Although it's never too early to get kids in the savings habit, the account must be opened by an adult and held in trust for the child up to the age of 16. On maturity, the account will transfer to Young Saver's Club. Being a branch operated account may limit its appeal but the flexibility it offers by allowing instant access withdrawals without incurring a penalty is attractive. Because of this and the 5% rate, we have awarded the account four out of five Moneyfacts stars.
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