C&G Young Investor lets an adult open and run an account for a child under 16, to help them make an early start on saving.
It’s an instant access, branch-based account and it has an interest rate guarantee that’s linked to the Bank of England base rate – so you know the rate will always be attractive.
You can open a C&G Young Investor with as little as £1 at any C&G branch. Plus, when you open the account, the child will receive a special gift.
| 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
| Annual Interest | |||
|---|---|---|---|
| Your savings amount | Gross % iii | AER % i | Net % ii |
| £0+ | 0.35 | 0.35 | 0.28 |
Interest rates effective from 01/03/09
You should read the following important information about the C&G Young Investor account together with the C&G savings handbook.
We guarantee that the interest rate on the C&G Young Investor will not be lower than 1% below the Bank of England base rate, and we pay the same rate however much is in the account.
Interest will be paid annually into the Young Investor account (compounded).
At any C&G branch.
Minimum addition – no minimum.
Maximum addition – £1,000 cash a day/no maximum for cheques. The maximum you can save in all C&G savings accounts in total is £3 million.
Minimum withdrawal – no minimum
Maximum withdrawal – £1,000 cash a day / £100,000 a day by cheque
You must be 18 years of age or older to open and operate the account and it can be run by up to two adult operators. The child must be under 16 and have their permanent home in the UK. If you want to help more than one child save, each young investor must have their own account.
The money in the account must be for the child and all additions and withdrawals must be for the child’s benefit.
The C&G savings handbook - 
171k
For more information on:
Checking your identity - 32k
Before you open an account you and anyone else named on the account may be asked to provide information to confirm your identity.
The Banking Code
Lloyds TSB Bank plc and Cheltenham & Gloucester Plc are pleased to support and comply with this voluntary code which sets the standard of good banking practice throughout the industry.
Closing an account
Information on how to close a C&G savings account.
Dormant accounts
As time goes by, it's not uncommon for customers to forget about savings accounts which they have stopped using for one reason or another.
At C&G, we want to ensure our customers are reunited with the funds in these forgotten or lost accounts.
Adobe PDF reader is required to view some of our guides.
| Account name: C&G Young Investor | |
|---|---|
| Interest rates (AERs) |
Interest rates vary. Please view our Key Benefits, or ask for the C&G Savings Accounts & Rates booklet for full details of the current interest rates and AERs we are paying on this account. We guarantee that the gross annual interest rate we pay on this account will be no lower than 1% below the Bank of England base rate. |
| Tax status | Gross or Net If the child named on the C&G Young Investor account is a non-taxpayer, we can pay interest without any deduction for income tax i.e. Gross. The child’s parent or guardian will first need to complete HM Revenue & Customs form R85 on their behalf. Interest may continue to be paid without deduction of tax until 5 April, following the child’s sixteenth birthday. If the child pays income tax, we will pay interest after deducting income tax at the applicable rate, currently 20% i.e. Net. |
| Conditions for bonus payment | Not applicable on this account. |
| Withdrawal arrangements | You can withdraw money at any C&G branch and do not have to give any notice. The maximum cash withdrawal is £1,000 per day. The maximum withdrawal by cheque is £100,000 per day. |
| Access | Operated by an adult on behalf of a child under 16 at any C&G branch. |
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.
