Nationwide Building Society has reviewed its range of variable rate accounts seeing the launch of a new market-leading children's account.
The Smart Limited Access variable rate account, available to children up to the age of 17, pays a market-leading rate of 3.00% yearly.
The finer details…
No more than one withdrawal is allowed per year to achieve this top rate of interest, anymore will result in 0.75% being paid for the remainder of the account year.
The account can be opened and operated in branch or online with as little as £1 and can be opened by an adult on behalf of a child under 16, however it must be opened by an adult for under 7s. If applying online both adult and child must be an existing customer.
Further additions are allowed up to a maximum investment of £50,000.
Why we like it…
The extremely competitive rate means this is a great way for children to get into the habit of saving and makes this product from Nationwide a Moneyfacts best buy.
Four Moneyfacts Stars have been awarded.
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