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Treasure BondThe Treasure bond allows you to put money away in an account that is designed to grow with your child. The bond automatically 'rolls over' into a new issue each year so you don't need to re-apply.
Eligibility A Treasure Bond can be opened for a child up to and including the age of 12, either in trust on behalf of the child or in the child's sole name if aged 8 or over. The trustee and the child must be resident in the UK. Up-to-date interest rates At the start of each month we will set the interest rate that will apply throughout the term to all Bonds opened during that month. Regardless of what happens to interest rates, a Bond can be opened at this rate until the last working day of the month. A new rate of interest will be set at the start of the following month for that month's issue of the Bond. Of course, interest rates available in previous or subsequent months could be higher or lower than when your Bond is opened due to changing economic conditions. Interest will be added to your account on maturity each year. How much can you save? You can save as little as £100 or as much as £500,000. You can make additional deposits during the month in which the Bond is opened, e.g. if opened on 18 August, more money can be added up to 31 August. A new issue of the Bond is introduced each month and there is no limit to the number of Bonds that can be held. When you open the Bond, we will give you a receipt for the amount that has been invested and a folder to keep all the paperwork together. After the end of the month in which the Bond is opened, we will also send you a certificate to confirm the amount invested and the interest rate. On maturity At the end of the term your balance will be transferred to a new issue of the Bond. During this month, you will be able to add to the Bond and have instant access to your money without loss of interest. In the first week after maturity you will be sent a new certificate showing the amount of interest earned, the balance carried forward to the new issue of the bond and the rate of interest applying to this new issue. At this point, if you want to keep saving for your child in the Bond, simply do nothing. The money invested will remain in the new issue of the Bond for a further year after the end of the instant access month. You can leave the Bond to roll over into further years until the child becomes 21. If you need access to your child's money During the month following maturity of the Bond, you will be able to access the money invested without loss of interest. This will be the only month in which partial withdrawals can be made. However, you can close the Bond after it has been opened or rolled-over for at least 3 months but 90 days interest will be deducted if you choose to do this. (If the Bond has rolled over into a new issue, the 3 months begins at the end of the instant access month). Choose from the following: |
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Ring 0845 1200100
