Cybersave Children’s Account
Help your child to manage their money
- Tiered interest - paid 4 times a year
- Interest paid gross on savings if an R85 tax form is completed by a parent or guardian
- Keep track with regular statements
- View summary of key information
The Cybersave Account from Clydesdale Bank is a great way for under 17s to earn a fantastic rate of interest on their savings. With tiered interest paid gross on balances, you can you use the Cybersave Account to help a young person learn how to manage their money.
How to apply
- Telephone on 0845 602 5450 (calls will be charged at the local rate)
- Visit your local Clydesdale Bank branch (Opens in a new window)
What you get
The account that grows with your child
- 3 levels of account for under 7s, 7-12 year olds and 13-16 year olds (accounts for children under 7 years must be held in trust)
- ID card, detailing the account holder’s name and account number
- Tiered interest - paid four times a year
- Interest paid gross* on savings if an R85 is completed by a parent or guardian
- Regular statements to help keep track of savings
- Dual-Function Debit Card with Maestro facility for over 13s
- Account holder has full control of the account if parents, guardian or grandparents give consent and the rules allow it (over 7s only).
Other savings accounts
- Savings Account - access your money quickly and easily
- Savings Account Plus - enjoy a healthy return on your savings
- Term Deposit - hold your account for the full 3 years and you'll receive a guaranteed rate
- 40 Day Notice Account - save as much as you like following your initial deposit of £500 and when you need to withdraw your savings just give 40 days notice
- Cash ISA - a great way to watch your money grow
- Stocks and Shares ISA - make the stock market work for you
- Child Savings Bond - a great investment for your child’s future
- Child Trust Fund - give your child's savings a flying start
*Gross Rate interest is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the lower rate prevailing at the time of payment (currently 20%).
Terms and Conditions for the Cybersave Account are available on request. The Cybersave Account is only available to children under 17.
For your security, calls may be monitored or recorded.
Clydesdale Bank PLC is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. You may be entitled to compensation from the Scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
In respect of deposits with a UK office, payments under the Scheme are limited to 100% of the first £50,000 of a depositor's total credit balances with the Bank. Further details of the Scheme are available from us on request or from the Financial Services Compensation Scheme: www.fscs.org.uk or Financial Services Compensation Scheme, 7th Floor, Lloyds Chambers, Portsoken Street, London, E1 8BN.