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Starter 4 Ten Children’s Saver Account

Help a young person you care about learn about savings with this simple-to-use account. Whether it’s for birthday and Christmas money or pocket money saved more regularly, it’s a great introduction to planning for the future and managing money or for creating a nest egg for when they’re older.

The account can be opened with as little as £10. It’s so easy to understand and operate, a child could do it. In fact, they can! Young people from 13 years old can open and operate an account themselves including making deposits and withdrawals.

Alternatively, you can open an account as a nominee, which means the money is in the young saver’s name and both you and the young saver can pay money in whenever you like. This also means that withdrawals have to be made and signed for by you as the nominee.

Any amount of money can be paid into the account as often as required (to a maximum balance of £10,000).

Taking all or some of the money out is straightforward too by simply popping into one of our branches with the passbook. The maximum cash withdrawal is £500 per day.

Our Starter 4 Ten Children’s Saver Account is available exclusively to savers under 18 years of age.

Please note that this account is only available to savers (child OR parent/guardian/relative) who live within the following postcode areas: LE, CV, NN, PE, NG, DE, B, ST, WV, DY, WR, WS, OX15, OX16, OX17, LN4, LN5, LN6.

The identification requirements for this account can be found in the account brochure. To receive the account brochure please use the ‘Enquire now’ link and we will send one to you in the post, or please visit one of our branches.

With effect from 3 February 2022

Summary box
Key product information for this account. For your own benefit and protection, you should carefully read the Savings Account Terms and Conditions booklet.
Account Name
 Starter 4 Ten Children's Saver Issue 3
What is the interest rate?

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

Min InvestmentAnnualMonthly
Gross AER Gross AER
£101.80%1.80% - -

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

Can Hinckley & Rugby Building Society change the interest rate?

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, Conditions 7.5 and 7.6.

What would the estimated balance be after 12 months

Depending on the initial amount deposited, assuming that no further deposits or withdrawals are made and there is no change in interest rate, after a 12 month period the estimated balance would be:

£1,000                    £1,018.00

£10                          £10.18

These figures are provided for illustrative purposes only and do not take into account your individual circumstances.

How do I open and manage my account?

Available to customers living in the Society’s core area of operation with an address in B, CV, DE, DY, LE, LN4, LN5, LN6, NG, NN, OX15, OX16, OX17, PE, ST, WS, WR or WV postcode areas.

One Starter 4 Ten Account may be opened per young saver. The account can be opened in the following ways:

  • Operated in the young saver’s name by a parent, relative or guardian on their behalf. This means the young saver can pay money in, however any withdrawals made must be made by the ‘nominee’ for the young saver.
  • In the young saver’s own name if they are aged 13 or over but under 18. This means that the young saver can both pay money in and withdraw from their own account.

Complete an application form and the declarations and consents and take it to one of our branches or agencies, or post it to us at the address on the rear cover, with your investment and identification (if applicable). Please make cheques payable to the young saver’s name.

The minimum deposit required to open and maintain this account is £10 and the maximum deposit is £10,000. The overall maximum holding by any one member in respect of all savings accounts with the Society is £300,000.

You can manage your account at any of our branches or by post.

Can I withdraw money?

Any withdrawals by the nominee can only be made for the young saver’s benefit. Withdrawals can be made at any time without notice or penalty. The cash withdrawal limit is £500 per day. Cheque withdrawals can be made for any amount if you have sufficient cleared funds in your account.

We will write to you before the young saver’s 18th birthday to advise that the Starter 4 Ten Children’s Saver Account will automatically revert on their 18th birthday to an Easy Access Starter Account. This account will offer easy access to funds subject to a minimum balance of £10 and a minimum cash or cheque withdrawal amount of £10.

Money can be paid out against a cheque from the start of the sixth business day following the day of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday. Funds are available for immediate withdrawal for all other types of deposit.

Additional information

If you are a basic taxpayer you have a £1,000 Personal Savings Allowance (£500 if you are a higher rate taxpayer). This means most people no longer pay tax on their savings income. If you have savings income over your Personal Savings Allowance, you are responsible for making sure you are paying the correct tax directly to HM Revenue & Customs.

* Gross rate – the annual rate of interest to be paid on a savings account without any deduction being made in respect of personal Income Tax liability.

** AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year (or monthly as the case may be).

Interest is calculated on a daily basis up to and including the day before any withdrawal. For cheque receipts, interest is paid from the day after the cheque is deposited with us. For cash and automated credits, interest is paid from the day of receipt.

Each year on 1 December the interest earned will be credited to your Starter 4 Ten Children’s Saver Account.

Hinckley & Rugby is required to submit certain interest payment details to HM Revenue and Customs.

Enquire about Starter 4 Ten Children’s Saver Account

Thank you for showing an interest in our Starter 4 Ten account.

If you wish to apply for this account, please visit your local branch. For help finding your nearest branch please use our map.

If you would like us to post you a brochure and application form please use the enquire button below and complete your details.

Enquire about the Starter 4 Ten Children’s Saver Account account

Important Information about all of our products

Savings type

This product belongs to the following type of savings:
Children’s Accounts, Easy Access Accounts