Dylan Young Saver

3.75% Gross* each year/AER† (Variable) 
 
Interest is calculated each day on the money in the account and paid into the account on 1 January every year. 

Yes, variable interest rates can go up or down. If you have £100 or more in the account, we will give notice of any reduction in interest rates at least 14 days before the change takes effect. 

For more information, see the section Changes to interest rates in our Savings Terms and Conditions. 

£1,836.37 
 
This is based on: 

• You paying in £150 a month for 12 months.
• You making the first payment on the day the account was opened.
• No money being taken out of the account.
• No change to the interest rate.

This calculation is for guidance only, to show you what a future balance could look like. It does not consider your individual circumstances. 

• This account is for people aged under 16 (referred to as 'the child' in this summary box). 
• If the child is aged 14 or 15, they can open the account or it can be opened as a guardian account. 
• If the child is under 14, the account must be opened as a guardian account (see the Savings Terms and Conditions). 
• When the child reaches 16, we will move the money to an Instant Access Account or the nearest equivalent we offer at the time. When this happens, the guardian can no longer withdraw from or close the account and the child will manage the account themselves. To do this, the child will need to provide proof of their identity and address. 
• The child and the guardian (if appropriate) must be UK residents (see your Dylan Young Saver account terms). 
• The account can have up to two adult guardians. Only someone with parental responsibility can be a guardian on the account (for example a parent, guardian or foster parent). 
• The account can be opened and managed in branch or at an agency. 
• You must keep at least £1 (the minimum balance) in the account. 
• The most you can pay into the account each month is £150, in one or more payments. 
• You don't have to pay money in every month. 
• If we do not receive the first payment within five business days of the account opening, we may close it. 
• If your account reaches £20,000, you cannot pay any more money into it. 
• The account can be managed in branch, at an agency or by post. 

Yes, you can make a withdrawal or close the account at any time. 

Service charges and costs may apply to the account. These are set out in our Tariff of Charges. 

In certain circumstances we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions. 

Children are not exempt from paying tax. If the total amount of interest earned by a child is more than their tax-free Personal Savings Allowance, they may have to pay tax directly to HM Revenue and Customs (HMRC). If a child earns more than £100 in interest during the tax year from money given by a parent, the parent may also have to pay tax. For more information, visit gov.uk. 

The interest rates quoted above were correct on 12/09/2024.