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Ladybird account (Issue 7)

Our Ladybird account (issue 7) is designed to help children get saving.

Interest rates are tiered based on the account balance so, the more you save the more you earn! The information below provides an overview of the account and the product specific terms and conditions.

Perfect if you...

    • Want to start saving from a young age
    • Want to earn more interest the more you save
    • Want to withdraw your funds as and when you need to

Just remember...

  • You will need a minimum deposit of £1 to open the account
  • You must be a UK resident aged 12 or under
  • You must have a Parent or Legal Guardian's approval to process the child's data

Summary box

* The gross rate is the rate before deducting tax at the rate applicable to savings income. The annual equivalent rate (AER) is a notional rate which illustrates what the gross interest rate would be if the interest was paid and added to the account annually.

Account Specific Rules and Criteria – Effective from 19 August 2020

Where the Savings Terms & Conditions are inconsistent with the account specific rules and criteria, these account specific rules and criteria will apply and will take priority.

  1. All funds invested belong to the child.
  2. You need to tell HMRC if your child earns more than £100 in interest from money given by one parent, or more than £200 if given by 2 parents, this interest is liable for tax. Please contact HMRC for advice.

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