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Younger Savers

The Hanley's Young Savers account is exclusively designed for young people up to the age of 18. The account pays a competitve rate of interest and is the ideal way for young people to get into the savings habit.

An account can be opened with as little as £10 and invest as much as £10,000.

Product Details


Summary Box
Key Information for our Savings Accounts

Account Name

Young Savers

Interest Rates (AERs)

Variable rate of interest. For current and previous rates of interest see our leaflet  ‘Savings Accounts Interest Rates’, visit www.thehanley.co.uk or telephone our Customer Services Team on 01782 255000.

Tax status

Interest will be paid or credited after the deduction of income tax i.e. net, at the lower rate of 20% or subject to the required certification, gross.

Withdrawal arrangements

Instant access – no withdrawal penalties

Access

Transactions - Branch/Post
Account balance and transaction enquiries - visit www.thehanley.co.uk and register for our ‘My Accounts’ service.

Account Ownership

  

The account may be held in trust by a parent or guardian, in a sole name from the age of 7 years (in which case the individual would then be responsible for authorising their own withdrawals), or as a joint account.

Product Availability

  

Restricted by Post Code
Please enter your Postcode to check availability.

Check Postcode

Minimum Balance

  

£10.

Maximum Balance

  

£10,000.

Additional Investments

  

Amounts of no less than £1 may be added at any time not exceeding the maximum balance.

Interest Paid

  

Annually on 31st August.

Interest Payment Options

  

Added to the account.

Notice to Withdraw

  

None.

Withdrawal Restrictions

  

None.

Account Operation

  

- Branch / Agency.
- Postal.
- Direct Debit.

Income Tax

  

All interest will be paid gross on opening an account with the appropriate Form R85 which must be signed by a parent or guardian if the account holder is under the age of 16. If no Form R85 is completed income tax at the appropriate rate will be deducted.

Account Opening Gifts

  

All accounts opened for children under the age of 7 will receive a Hanley 'Blue Pig' Money Box.

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Interest Rates

Young SaversCurrent Rates 
Annual InterestRates effective from: 01/04/2009 
BalanceGrossNettAER
£1.00 and above.                        1.35%1.08%1.35%