The interest is paid annually and will be credited to your account after close of business on 1 January.
Yes, the rate is variable. We can increase or decrease the interest rate as described in our Savings Service Agreement.
If we are decreasing the interest rate we will notify you at least 14 days before the change takes effect.
This is an example based on an initial deposit of £1,000 made on account opening and assumes no further deposits are made throughout the year and that the interest rate does not vary during the 12 month period.
The account is available to any child under the age of 18 who is resident in Northern Ireland and wasn’t eligible for a Child Trust Fund (CTF), this includes:
There is a minimum lodgement of £1 required to open the account.
You can save up to a maximum of the annual Junior ISA allowance (£4,260 for the current tax year).
The account can be opened and operated at any of the Society’s branches, agencies or by post.
No, withdrawals are not allowed before the child turns 18 years of age, unless there are extreme circumstances such as death or a terminal illness.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. This will enable you to compare more easily the return you can expect from your savings over time.
This is a tax free account which means the interest paid is exempt from income tax.
For further information refer to the terms and conditions of the account and the terms and conditions contained within the Savings Service Agreement. You can obtain a copy of these documents in the ‘Useful Information’ section below.
Before you apply, please make sure you read the Summary Box, Account Terms and Conditions, Savings Service Agreement and FSCS Information Sheet in full. You can save or print a copy of the PDFs for future reference. These documents contain details of your agreement with us for this account and we will rely on them for our relationship with you.
When you apply for an account with us, we’ll need to verify your identity and address. For details, check our proving your identity page.
If you open your account in one of our branches we will use an electronic verification system to verify your identity and address. We cannot do this for applicants under 18 or if you are not registered on the electoral roll. In these instances you will be required to provide full identification documentation and these can be found in our leaflet Proving your identity.
Visit your local branch to open this account.Find your nearest branch
To open this account by post:
We recommend that you download a copy of the documents and retain for your records.