Tell me moreInstant accounts
Notice accounts
Investing
Rainbow Savings
Start with £1 - and who knows
what will happen
Funds for university. A first car. Or even that first flat. Although your children don't know it yet, the nest egg you're setting up on their behalf could make all the difference.
Rainbow savings benefits
- £1 to open - it's easy to start the savings habit for your children
- Children young and old - save for any of your children who are up to 21 years of age
- Interest - we pay the interest directly to the account
- Simple savings - pay money in when you like - or set up a Standing Order if you'd like to make regular deposits
- Instant access - there are no restrictive notice periods. Simply withdraw funds when your child needs them
- You're in control - as a trust account, the Rainbow Savings passbook is in your name until your child reaches 21. If you like, you can ask us to transfer the account before then
The Rainbow Savings account is available in Jersey, Guernsey and Gibraltar.
| 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.
Net Rate - is the interest rate paid after deduction of tax.
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