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Starter 4 Ten Children’s Saver Account

Saving money may not sound like the most important or interesting thing to do but, take it from us, learning how to do it at a young age will stand you in good stead for the future.

That’s why we have designed our Starter 4 Ten Children’s Saver Account as the perfect introduction to saving – an account that’s really easy to operate.

It may only be on special occasions like birthdays or at Christmas when you have a little extra to put away. Or maybe you want to put just a little aside from your pocket money every now and then.

With our Starter 4 Ten Children’s Saver Account you can pay in as little or as much as you like, when you like, up to a maximum of £10,000. Just pay your money in and watch it grow.

And if you want to take some, or all, of your money out, that’s not a problem either, just pop into one of our branches or agencies and bring your passbook. It’s really that simple.

If your account is being operated by your parent, relative or guardian they must come with you to sign for your withdrawal.

The minimum investment is £10 and the maximum investment is £10,000.

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.

With effect from 7 April 2020

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 tiered variable rates of interest dependent on the amount invested, as follows:

Min InvestmentAnnualMonthly
Gross AER Gross AER
£1,0001.80%1.80% - -
£101.55%1.55% - -

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                          £10.16

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?

Complete the application form attached to the brochure, including the declarations on the reverse side, 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 ‘Hinckley & Rugby Building Society a/c ‘your name’.

The minimum deposit required to open and maintain this account is £10 and the maximum deposit is £10,000.  One Starter 4 Ten account may be opened per young saver.  The overall maximum holding by any one member in respect of all savings accounts with the Society is £300,000.

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

Can I withdraw money?

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

Interest is paid gross without tax deducted. Since 6 April 2016, most people have no longer been required to pay tax on savings income. However, it is your responsibility to pay any tax due, based on your individual circumstances. Ask for a copy of A guide to the Personal Savings Allowance produced by HM Revenue & Customs for further details.

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