Young Saver

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.

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

• The account may only be opened by UK residents that are under 18, sole investors
  only. Proof of age will be required when opening an account.
• For young savers under the age of 13, accounts must be opened and managed by
  a parent, grandparent or guardian who authorizes all withdrawals.
• Once the young saver reaches age 13 the account may be operated by the young
  saver with the authority of the parent, grandparent or guardian who manages the
  account.
• The young saver is the account holder, and the owner of the money held in the
  account. Any payments into the account will be treated as a gift to them.
• Minimum balance £10.
• Maximum balance £10,000.
• To apply for a Young Saver Account please read the Young Saver leaflet to ensure
  this account is suitable for you. Please be certain to read the Terms and Conditions
  for esbs Retail Savings Accounts.
• If you wish to open an account you can download and print an application form,
  apply in person in one of our branches or, should you wish for an application form
  to be sent in the post for you, call our Savings Team on 01455 844422.
  Please remember to provide the correct identification for all account holders
  under the age of 18, along with funds/proof of funds in order to open the account.
• You can manage your account at our branches or by post.

• Yes – Instant Access.

• This account is limited to one per young saver.
• Once the young saver reaches age 18, the account will be transferred into an
  instant access savings account operated by the 18-year-old. The interest rate
  payable may be lower than the Young Saver account. Further identification
  would be required at this time.

 This account might be right for you if you:

• Are happy with a variable rate of interest that can go up or down
• Are aged under 18
• Would like instant access to your money

This account is not right for you if you:

• Want the security of a fixed rate of interest