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|Product Name||Minimum Balance||Interest Paid||Gross Interest %||AER %||Withdrawals||Add to brochure download|
|Young Savers||£5+||Annually||1.25||1.25||Easy Access|
|Wild Ones Young Savers||£5+||Monthly||2.40||2.43||30 days' notice to withdraw|
Savings accounts for under 16s. Encouraging your children to save some pocket money or birthday money is a great way to pass on the “saving mentality”. If you are wanting to encourage your children to save, we have two savings accounts designed for young savers.
Our Young Savers account is an easy access children’s savings account that means you can access your money when you need to. Young Savers is a straightforward children’s savings account that gives you the flexibility to pay money in, and take money out when you need it.
Our Wild Ones Young Savers account is a 30 day notice account. This account offers a higher rate of interest than the easy access Young Savers account but you need to give us 30 days’ notice if you wish to make a withdrawal. The Melton is giving away special Wild Ones Packs to children aged 0 to 16 years who open a Wild Ones Young Savers Account at any of our branches. The Wild Ones Packs contain a pocket wildlife guide, wildflower seeds and more, encouraging young people to enjoy wildlife and get into the habit of saving. New Young Savers can also choose one of our limited edition passbook wallets – will yours be a lizard, toad, rabbit, owl, harvest mouse or a seal?
Take a look at our Handy Guide to making the most of your savings.
Here to help
Not sure which account is right for you? Get in touch and our experienced staff will be happy to talk you through your options and help find the best children’s savings account for you.
How safe are your savings?
You may be worried that if you tie your money up in a savings account, it won’t be protected. However, the Financial Services Compensation Scheme is an independent body that serves as a last resort to cover most deposits, including savings up to the value of £85,000. So, if for some reason your bank or building society failed, your money is protected by the FSCS.
The Society’s Bank Account details which are used for paying money in to your account electronically are as follows:
Sort Code: 40-05-30
Account Number: 74574915
Beneficiary*: Melton Mowbray Building Society
Reference/Account Number: You must quote your full account number (i.e. ABC1234567DEF) to ensure that the funds reach your account.
*Not all Banks or Building Societies will require this.
The Melton School Bank
The Melton School Bank service encourages pupils to save in a fun and engaging way. The Society has two savings accounts for children aged 0 to 16 – the Wild Ones Young Savers and the easy access Young Savers. The Society is working with our local Wildlife Trusts to raise funds to protect wildlife and we are giving away special Wild Ones Packs to children who open a Wild Ones Young Savers Account at any of our branches. The Wild Ones Packs contain a pocket wildlife guide, wildflower seeds and much more, encouraging young people to enjoy wildlife and get into the habit of saving. All pupils who open a young savers account at one of our School Banks receive a Melton piggy bank.
A member of our staff visits local primary schools regularly at the start or near to the end of the day to open the Bank with the help of the children. If you would like some more information about the Melton School Bank service please contact Jamie Hyland on 01664 414141 or email email@example.com
Call one of our friendly advisors on 01664 414141. Opening hours 9am to 6pm Monday to Friday and 9am to 12pm on Saturdays.
Leave your details and we will call you back.
Following the Bank of England Base Rate increases, our Standard Variable Rate is due to increase from 4.99% to 5.39% with effect from 1st June 2022.
Please also bear with us as our telephone lines will be busier as we help our customers