The Bank of Scotland has increased the rate on its Young Saver by 1.00% AER for investors with deposits of £1 and over.
This account pays a quarterly rate of 3.00% AER (2.97% gross) to savers with investments between £1 and £19,999, whilst those with between £20,000 and £9 million invested will receive an AER and gross rate of 0.50%.
Funds can be accessed without advance notice or penalty.
The account must be held by an adult on behalf of their child and can be operated in branch only.
This revamped deal pays a competitive new rate to young investors, whilst also allowing short-term access to money. Four out of five Moneyfacts Stars have been awarded.
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