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.