One Year Fixed Rate Mini Members' Month Bond

One Year Fixed Rate Mini Members' Month Bond

The interest rate paid on this account will be paid as below:

Rate effective from 1 September 2026.

Interest is calculated each day on the money in your account and is paid at the end of the fixed term.

The interest rate for this account is fixed for the term and can't be changed.

If your account falls below the minimum balance, the interest rate we'll pay you will reduce to 0.05% Gross p.a/AER*.

This is based on no further money being paid in or taken out of the account and no change to the interest rate.

• The beneficiary or signatory must have held a savings or mortgage account with Saffron for the last consecutive 12 months OR have been a signatory, Power of Attorney or Court of Protection with Saffron for at least the last 12 months.
• The child must be 17 or under and a UK resident to have this account.
• You can open the account in branch or by post.
• You need to pay money into your account within 30 days of opening it. If you don't we'll close the account.
• You'll need to keep a minimum of £500.00 in your account to get the interest rate.
• The maximum amount you can pay into this account is £5,000.00.
• No further funds can be added after the opening deposit.
• The money paid into the accounts belongs to the child only.
• You can be the beneficiary of only one Members’ Month Bond (Adult or Child).
• You can manage the account in branch, by post, by phone, on webchat.
• If the child is under the age of 13, we'll need an adult signatory on the account.
• If the child is aged 13 to 17, you can choose to have an adult signatory on the account.
• Each signatory must have their own individual email address and mobile number.
• All signatories will be removed from the account on the child’s 18th birthday. This means they will no longer have control over the account or money in it. Before their 18th birthday, the child will be notified that this will happen. The child will need to complete re-identification before they can access the account.
• A Parent or Legal Guardian must give their approval on the Children’s Application Form to process the child’s data, if the child is under 16. If the signatory is not the Parent or Legal Guardian, the signatory must obtain this consent.

No, you can't take money out of this account. This also means you can't close your account within the fixed term.

Before the one year term ends we'll contact you to let you know. Your account will change to the Children's Easy Access Maturity account, which will have a different interest rate. The account number won't change. If you want to switch to a different account, we'll tell you how to do this in the maturity pack that we'll send you.

Our Savings Promises provide you with additional peace of mind, including penalty-free access to your money if your life circumstances significantly change (e.g. serious illness, redundancy, etc). For more information please click here or ask us.

If the total amount of interest you earn is more than your tax-free Personal Savings Allowance, you may have to pay tax to HM Revenue & Customs (HMRC). For more information visit gov.uk.

* Interest Rate definitions: Gross is the interest rate without the tax deducted. AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded once each year.

If we delegate any of our functions or responsibilities under this agreement to someone else, we will satisfy ourselves that the person or organisation we delegate to will be competent to carry out those functions and responsibilities. 

New fraud rules from 7 October 2024 mean that with this product, you're eligibility to claim for fraud has changed. For more information please click here.