Bradford & Bingley (B&B) has launched a new savings bond for children.
The savings option, which the company describes as "market-leading", allows parents to invest for a five-year term.
Available for children aged up to 16, the bond will pay interest annually until maturity on November 30th 2011.
Steve Potter, head of savings at Bradford & Bingley, comments: "This account has been especially designed to complement our existing product range, ensuring that children can save for their future over the short, medium and long-term, keeping all their investments safe in one place.
"The children's savings bond provides a great rate for savers over five years and offers the opportunity to invest for a fixed term at a competitive guaranteed fixed rate."
Key features of the savings option are a minimum investment of £100, ranging to a maximum of £25,000, no additions or withdrawals are possible throughout the term and the account will pay 5.5 per cent per annum AER.
The government has recently attempted to encourage savings for children, by creating the child trust fund savings accounts.
B&B launches children's savings bond
B&B launches children's savings bond
Fri, 08 Sep 2006
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