Yorkshire Building Society wins award for savings account
www.moneynews.co.uk > General finance > Yorkshire Building Society wins award for savings account
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Money News |
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Yorkshire Building Society wins award for savings account
Mon 8th Dec 2008
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The account, called Freedom, won the prize at the Moneywise Children's Savings awards.
Freedom pays a gross AER of 3.8 per cent and is available to savers between the ages of 12 and 20.
Requiring a starting balance of as little as £10, Freedom also enables teenage savers to withdraw their money any time they wish.
However, Yorkshire Building Society offers parents the opportunity to put a monthly withdrawal limit on the account so that their children do not blow all their savings at once.
Chris Smith, senior savings product manager at Yorkshire Building Society, said: "The Freedom Account has been designed to provide a consistently competitive interest rate coupled with features that are really useful to both young savers and their parents or guardians."
NatWest recently published a survey which showed that the credit crunch is pushing more parents to teach their kids how to budget properly from a younger age.
Click here for more banking news
Related News : General finance |
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Related News : Banking |
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