It’s never too soon for children to learn the value of money – and that pennies will grow up into pounds, given the right encouragement. So here’s a great way to get their saving habit up and running. And what child can resist the sound of clinking coins in their brand-new money box?
| Annual Interest | |||
|---|---|---|---|
| Your savings amount | Gross % iii | AER % i | Net % ii |
| £0+ | 0.05 | 0.05 | 0.04 |
Interest rates effective from 01/04/09
i AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
ii Net interest is paid or credited after deduction of income tax at the lower rate of 20%.
iii Gross interest is the rate payable before the deduction of income tax and can only be paid or credited subject to the required certification. Interest cannot be paid gross to individuals not ordinarily resident in the UK for tax purposes. Individuals whose income falls within the basic rate band will have no more tax to pay on their interest. Individuals who are higher rate taxpayers will have to pay the extra tax due on their interest (the difference between tax deducted at 20% and the higher rate of 40%).
The C&G Young Investor account rate is variable and we may change the rate on this account at any time. If we change the rates, we will tell you using at least one of the ways set out in your account's conditions. Where, under the terms of an account, a change in the Bank of England base rate requires us to change the interest rate, we will always make the change within 30 days of a change to the base rate.
Rate changes to a C&G account or to other generally available accounts can affect an account's relative competitiveness and we do not promise that our rates will be better than those available elsewhere.
Products and rates can change frequently and without notice. So, please reload the page if you are viewing offline or through stored information on your computer.
