New savings account for youngsters | Product News - Moneyfacts

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New savings account for youngsters

New savings account for youngsters

Category: Savings
Date: 30/10/2014

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 It is now over 6 months old so the content may be out of date.

Nationwide Building Society has unveiled a new savings account aimed at the younger generation that has earned a place among the market-leaders.

The basics…

FlexOne Regular Saver pays a highly competitive rate of 3.50% per annum.

The finer details…

This deal is available to savers aged 11 to 17 inclusive and can then be held until the account holder turns 23. To qualify, the saver must have a FlexOne current account.

The account can be operated in branch and online with an initial investment of just £1. Monthly deposits of up to £100 can be made and the payment amount can be changed at any time. Unlimited, no notice withdrawals are also permitted.

Why we like it…

This account is a great savings vehicle for younger savers, offering an attractive rate of interest and the option to access funds at any time without penalty. The ability to change the monthly payments is also a plus, and should help encourage the savings habit.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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