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Nottingham BS doing it for the kids

Nottingham BS doing it for the kids

Category: Savings

Updated: 06/03/2009
First Published: 06/03/2009

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 It is now over 6 months old so the content may be out of date.

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.

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 Any products featured may be withdrawn by their provider or changed at any time.