Young Savers account important information
Our agreement with you is made up of general conditions (contained in the Personal Banking terms and conditions) and additional conditions. These include the conditions below and the Banking Charges guide. If there is any overlap or conflict between the additional conditions and the Personal Banking terms and conditions, the additional conditions apply.
The Young Saver Account is an instant access children’s savings account with a variable interest rate. It is provided by Lloyds TSB Scotland plc if you open it in a branch in Scotland, otherwise it is provided by Lloyds TSB Bank plc.
- ELIGIBILITY
To open the account you must be under 16. If the Account is still open when you reach 16, we will convert the Account to another instant access savings account in your name. We will send you the additional conditions for the new account before we make this change. - OPERATING YOUR ACCOUNT
2.1 The person who signs the application for you must be over 18 and will be authorised to operate your Account as if they were you. We may check to make sure that any withdrawals from the Account are for you but we do not have to.
2.2 If you are under 11 when you open this Account, once you reach 11 we will offer you an Under 19’s account (or similar account if it is no longer available) which you can operate yourself. The person authorised to operate this Account can agree to the terms that apply to that account if they are different to these terms.
2.3 This Account cannot be operated by Telephone or Internet Banking. - DEPOSITS AND WITHDRAWALS
3.1 You can pay money into this Account in branch, or by transferring money from another account with us or another bank.
3.2 You can only make withdrawals from this Account at a branch. - INTEREST
4.1 The Account interest rate is variable.
4.2 We will pay interest once a quarter on the 10th of the month in March, June, September and December.
4.3 You will find our interest rates for the Account in our UK branches, online at www.lloydstsb.com or by phoning us on 0845 300 0032. - COOLING OFF
5.1 If you are not happy with your choice of account or service, you can cancel it within 30 days of opening the account or taking the service. We will then help you to move to another account we offer or will return your money to you with any interest you have earned.
View Young Savers account information.
