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 easy access, branch-based account you can open 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+ | 2.00 | 2.00 | 1.60 |
Interest rates effective from 10/01/11
| Annual Interest | |||
|---|---|---|---|
| Your savings amount | Gross % iii | AER % i | Net % ii |
| £0+ | 0.05 | 0.05 | 0.04 |
Interest rates effective from 04/01/09
You should read the following important information about the C&G Young Investor account together with the C&G savings handbook.
The interest rate will be no lower than 1% below the Bank of England base rate.
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 adults. 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.
In the year following the child's 16th birthday the account will be converted to a variable rate Cheltenham Gold savings account, it will remain under the control of the adult.
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 - 
242k
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.
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 are variable. 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. |
| 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. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
ii Net rate is the contractual rate of interest payable after the deduction of income tax at the rate specified by law (currently 20%).
iii Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
iv Tax-free is the contractual rate of interest payable where interest is exempt from income tax. Tax treatment depends on your individual circumstances and may change.
