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At the present time this account can only be opened by existing members or by people living within the post code areas of LE, CV9-13 inclusive and DE11-15 inclusive. Existing accounts can continue to be operated as usual.

Savings account for young people up to 18 years old

 

Summary Box

The Information provided is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account.

What is the Interest Rate?0.25% Gross/0.25% AER

 

AER stands for Annual Equivalent Rate.  It illustrates what the interest rate would be if interest was paid and compounded each year.

 

Interest is calculated daily and is variable.  Interest is compounded annually on the last day of February and may only be added to the account.

 

See our current interest rates for all savings accounts.

Can esbs change the Interest Rate?We may change interest rates at any time if we reasonably believe the change is needed.  Please refer to Condition 7 – Interest in the Terms and Conditions for esbs Retail Savings Accounts for further details.
What would the estimated balance be after 12 months based on a £1,000 deposit?The projected balance based on the current interest rate is £1,002.50.

 

This projection is provided for illustrative purposes only and does not take into account the individual circumstances of the customer.

How do I open* and manage my account?*At the present time this account can only be opened by existing members or by people living within the post code areas of LE, CV9-13 inclusive and DE11-15 inclusive. Existing accounts can continue to be operated as usual.
Can I withdraw money?
  • Yes – Instant Access.
Additional Information
  • This account is limited to one per child.
  • The account closes at age 18 and converts into a Double Top Account which may pay a lower rate of interest.  Further identification would be required at this time.
  • Free Money Box with every account opened (to be collected from one of our branches).
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