HSBC gives children’s account a 2% boost | Product News - Moneyfacts

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HSBC gives children’s account a 2% boost

HSBC gives children’s account a 2% boost

Category: Savings
Date: 01/09/2014

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

HSBC has increased the rate on its popular children's account by up to 1.96%, seeing it storm up the Moneyfacts charts with a leading rate of interest.

The basics…

MySavings now pays 2.96% monthly (3.00% AER) on balances up to £3,000, a joint market-leading rate for this sector of the market. A lower rate of 0.50% is paid on anything above this amount.

The finer details…

Available to children aged between 7 and 17, this instant access account can be opened with a minimum investment of just £10. Further additions and withdrawals are permitted at any time. It can be opened in branch or by phone, and can then be managed by the same channels as well as online.

Why we like it…

Paying a leading rate of interest, this account matches the current market-leaders and comfortably becomes a Moneyfacts best buy.

Four Moneyfacts Stars have been awarded.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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