Child's Savings Bond - An investment that grows as they do
 Give a child something really special
Why not make a great investment in a child's future? With a minimum deposit of £50, you can open a Child's Savings Bond - an investment guaranteed to grow if held for the full five year term, giving you peace of mind for your child's future.
Give a child something they can't grow out of
Unlike a bicycle or woolly jumper, a Child's Savings Bond grows with the child. With attractive rates, it will increase in value. Please ask in branch for details of rates available. And at the end of the five year term, it can be re-invested or the money withdrawn and used to benefit the child in other ways.
You can't add to a Child's Savings Bond but you can make sure that it's tax efficient. Children under 16 are entitled to receive Gross* interest on their savings, making this the perfect gift to show you care about their future. Entitlement to Gross* interest is not automatic, an R85 form, available at your branch, must be completed and signed by the Parent or Guardian of the child.
Open a Child's Savings Bond today
To open a Child's Savings Bond, you just need to advise your full name, date of birth and residential address, and bring along some form of ID, such as your passport or photocard driving licence. The child's details are also required, together with proof of their ID such as their passport, birth certificate or NHS medical card. Other documents are also acceptable for both you and the child, so don't hesitate to get in touch and ask for further details.
If you would like further information please ask one of our advisers and then you can open a Child's Savings Bond straightaway.
Your questions answered…
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Will they be able to access money held in the Child's Savings Bond?
To make the money deposited work as hard as it can, withdrawal from the Child's Savings Bond is not permitted until it reaches the end of its five year term. If a Child's Savings Bond is closed early, one withdrawal of the full amount must be made and will incur penalty charges#.
Important Information
A minimum deposit of £50 is required to achieve the quoted rate. Interest is payable annually and at maturity and the rate is fixed for the term quoted.
#If an early withdrawal of the full amount is requested before the term of 5 years, the stated interest rate will not be achieved. Such a withdrawal will be subject to an early repayment charge (£10 minimum charge) the amount is dependent on the number of days to Maturity. Ask at any branch or see Terms and Conditions for full details. The charge will be deducted from any accrued interest, but where there is insufficient accrued interest to meet the charge in full, any additional sum will be deducted from the capital in the account. No partial withdrawals are permitted.
* Gross Rate interest is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the lower rate prevailing at the time of payment (currently 20%).
Full Terms and Conditions are available on request. The Child Savings Bond is only available to children aged 0 - 16 years inclusive.
Yorkshire Bank is a trading name of Clydesdale Bank PLC which is authorised and regulated by the Financial Services Authority.
Yorkshire Bank is a trading name of Clydesdale Bank PLC. Registered in Scotland (No. SC001111). Registered Office: 30 St. Vincent Place, Glasgow G1 2HL.
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