At The Mansfield we offer a range of account options that allow you to save on a child’s behalf or help encourage children to learn the value of savings.
With different withdrawal arrangements, our accounts can help grow your investment until the child becomes 18 or allows children limited access to their own savings account.
| We’re also proud to offer financial education with our mascot, Stanley Stag. As well as volunteering with local schools we have a range of colouring sheets, word searches and activity sheets available to download on Stanley’s very own page.
Find out more about our children’s accounts in the product details below. |
 |
| Minimum Balance | £1 + |
| Interest Rate (AER1/Gross2) | 3.75% |
| Interest Payable | Anually on 31 December and on maturity at age 18 |
| Withdrawals | Up to 6 withdrawals per calendar year without penalty. Further conditions apply, see product summary box for full details |
| Access | Post or Branch |
Local and Loyal only
| Minimum Balance | £1 + to a maximum investment of £9,000 in the 2023/24 tax year |
| Interest Rate (AER1/Gross2) | 4.25% tax free^ |
| Interest Payable | Annually on 5 April |
| Withdrawals | No withdrawals allowed until the child is 18 |
| Access | Post or Branch |
Local and Loyal only
| Minimum Balance | £1 per month + |
| Interest Rate (AER1/Gross2) | 4.50% |
| Interest Payable | Annually on 31 December and on maturity at the age of 18 |
| Withdrawals | Up to 2 withdrawals per calendar year without penalty. Further conditions apply, see product summary box for full details |
| Access | Post or Branch |
Local and Loyal only
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. AERs on the Monthly Income account assume interest is added to the account each month although in practice the option to have interest added in this way is not available.
The gross rate is the contractual rate of interest payable without tax taken off.
If separate AER/Gross rates are not quoted, both rates are identical.
Tax free means exempt from UK income and capital gains tax in the hands of the investor.
Want to ask us a specific question? Enquire online here or phone us on 01623 676350
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