Ladybird account (Issue 4)

This account is designed for anyone up to the age of 11 to encourage them to save from an early age. The account aims to help children understand how their money can grow by offering competitive interest rates and introducing them to the saving habit in a fun and friendly way.

Summary of the key product features for this account

Summary Box Key Product Information for our Savings Accounts
Account name	Ladybird account (Issue 4)
Interest rates (AERs)	Interest Tier AER £1 + 1.50% variable £10,000 + 1.85% variable £25,000 + 2.25% variable
Tax status	Interest is paid net of tax unless you have registered an R85 form
Conditions for bonus payment	There is no bonus payment for this account
Withdrawal arrangements	Immediate access
Access	Access is via post, or one of our branches

• Open with just a £1
• Maximum investment of £50,000 (although interest can be added onto this)
• Immediate access to savings
• Available for anyone up to the age of 11. Children under the age of seven must get an adult to act as a nominee or trustee, which makes this account ideal for parents, grandparents, friends or relatives to open on behalf of a child
• On your 12th birthday the account will roll over into a V4 account, unless you instruct otherwise
• The interest rate is tiered, so the more you save, the higher the rate of interest
• Each account holder will receive a ladybird money box
• Interest is paid annually on 31 December and credited directly to your account

You may be able to receive your interest without paying tax. First, your parents/guardians should complete the Helpsheet attached to this form to see if you are entitled to get interest without paying tax. If you are, ask them to complete the remainder of the form and send it to us with your application form.

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