Children’s Regular Saver

This account offers a variable rate of interest, as follows:

Interest will be paid to the account on 1 December each year.

On the child’s 18th birthday the account will automatically become an Easy Access account or the nearest equivalent available at that time. You can find the current rate payable on this account by visiting our Interest Rate History page (hrbs.co.uk/interest-rate-history/)

We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Condition 7.

If you made the initial deposit of £250, and saved £250 on the first day of each subsequent month, the estimated balance after a 12 month period would be £3,060.94.

These figures are provided for illustrative purposes only and assume there are no changes to the interest rate paid on the account. They do not take into account your individual circumstances.

This account can be opened and operated in a child’s name on their behalf by a nominee – a parent, relative, or guardian. The account can also be opened and operated by a child on their own if aged 13 to 17.

This account can be opened by post or at any of our branches and agencies. Simply complete the application form and take it with your opening deposit* and ID documents, or post them to us at the address in this brochure. Please make cheques payable to the child’s name.

*Your opening deposit must be paid in within 5 business days of the account being opened, or you will need to start the application process again. If you wish to pay this by electronic transfer, use the details that we will send you when the account is open.

The minimum deposit required to open (and keep in) the account is £1. You can add more money whenever you wish, but the maximum you can add during each calendar month is £250. If you make a deposit that causes you to go over the monthly limit, the whole deposit will be returned to you.

You can manage your account at any of our branches or agencies, or by post. A nominee can also view the account online, on our app or by using H&R Online on our website (after registering for the service – only available to customers aged 18 or over).

This account is intended for long-term savings and will mature when the child turns 18, with no withdrawals expected until then.

Funds can be accessed early by closing the account any time without penalty; requests must be submitted in writing or by visiting a branch or agency. The closing balance can only be made payable to the child’s name and issued by cheque.

We will write to the child before they turn 18 to tell them what will happen with the account on their 18th birthday. On that date, the account will automatically become an Easy Access account, unless they decide to open a different account or close the account. This account offers easy access to funds subject to a minimum balance of £1 and the maximum balance of £500,000.

If there is a nominee registered on the account, we will write to them at the same time to inform them that they will be removed from the account on the child’s 18th birthday. We will also inform the child of this.