Young Savers' Club

It's never too early to start saving. With our Young Savers' Club you can teach your little ones the benefits of saving by getting them into the savings habit from an early age.

Account details

  • A special account for those aged 16 and under – no minimum age


  • Just £1 to open


  • Instant access withdrawals


  • Minimum age 16


Summary table

Account name

Young Savers' Club

Interest rates (AERs)

Annual interest 1.00% gross rate p.a./AER*
The interest on this account is variable, this means that it can go up or down. The basis on which we might change your interest rate is set out in our terms and conditions

Tax status

We will pay your interest without tax taken off. It is your responsibility to declare any interest you earn over your personal savings allowance directly to HMRC. Your tax treatment will depend on your individual circumstances and may be subject to change in the future, for further information please contact HMRC

Conditions for bonus payments

Not applicable

Withdrawal arrangements

Instant access

Access

Branch

Additional information

There are other savings accounts available with The Nottingham and other banks and building societies. Subject to withdrawal conditions you can switch accounts at any point



Want to discuss one of our savings products?

Visit a branch or call our customer service team to find out more about our accounts

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  • Rates & account details
  • Managing your account
  • Opening an account

Your interest


Your interest will be paid each year on 30 November. We’ll send you a statement telling you how much interest you’ve earned, the rates that have applied to the account over the last year and the current rate of interest.

Most of our young savers don’t have to pay tax on their interest.

Paying money in


You can pay money in at any branch. Every time you put money into the account we will print this in your savings book so that you can see exactly how much you have saved up.

Taking money out


If you want to make a withdrawal, a parent or guardian will need to accompany you if you're:
  • aged under 7
  • aged 7 – 10 and want to take out more than £5
  • aged 11 – 16 and want to take out more than £250

How to open

To open an account you must:
If you're aged between 7 and 16 you can open the account yourself. If you're younger than 7 you will need to bring a parent or guardian with you.

All account openings will require a copy of the child's birth certificate. If, as the parent or guardian you are new to The Nottingham, you'll need to bring two forms of identification with you.

We'll give you the full terms and conditions when you open the account.

Call your local branch and speak to one of our advisers and find out how you could benefit from a savings account.

Current interest rates from 1 Sep 2016

Balance Gross rate / AER* Net rate+
£1 - £750,000 1.00% 0.80%

Previous interest rates from 28 Sep 2015

Balance Gross rate / AER* Net rate+
£1 - £750,000 1.50% 1.20%

*We will pay your interest without tax taken off. It is your responsibility to declare any interest you earn over your personal savings allowance directly to HMRC. Your tax treatment will depend on your individual circumstances and may be subject to change in the future, for further information please contact HMRC. AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest was re-invested in the account each year. Interest rates are variable unless otherwise stated.

+The net rate(s) shown assume(s) income tax at the lower rate of 20% has been taken off.

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