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Rainbow Savings
£1 - it could be the key to
a child's future
Right now, your children are busy with the important task of growing up. But what will the world hold for them when they start to think about work, university or buying a home?
Rainbow Savings is our trust account for your children aged up to 21.
Rainbow savings benefits
- £1 to open - it's easy to start the savings habit for your children.
- Interest - earn interest on this account, helping your child's savings to grow.
- Easy to use - simply just pay in what you want, when you want. Prefer a more regular arrangement? Why not set up a Standing Order to make regular payments into the account?
- Instant access - you can withdraw funds when your child needs them.
- Control the money - there's a savings passbook in your name. When the time comes, simply ask us to transfer the passbook to your child.
| Amount | Gross Rate % | AER % |
|---|---|---|
| £0 + | 1.35 | 1.35 |
Last updated on: 02 January 2009
Gross rate - is the interest rate paid before the deduction of tax.
Annual Equivalent Rate (AER) - illustrates what the interest rate would be if paid and compounded each year.
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