Balance | Gross/AER |
---|---|
All credit balances | 0.60% |
Interest is calculated daily and paid into your account at the end of October each year.
An instant access savings account designed especially for those aged 10 or under
- Age 0 to 10 years: in the name of an adult for the benefit of the child
- Age 7 to 10 years: in the child’s own name
Balance | Gross/AER |
---|---|
All credit balances | 0.60% |
Interest is calculated daily and paid into your account at the end of October each year.
Initial deposit at account opening | Estimated interest earned after 12 months | Estimated balance after 12 months |
---|---|---|
£1,000.00 | £6.00 | £1,006.00 |
This estimate is for illustrative purposes only and does not take into account your individual circumstances.
The estimate assumes that:
This account is suitable for a child aged 10 years and under.
Where the account is being opened in the child’s name:
For accounts opened or amended after 4 July 2021
Where the account is being opened by an adult for the benefit of a child:
For accounts opened or amended after 4 July 2021
The Danske Discovery Savings account currently pays 0.60% Gross/AER (variable) on all credit balances.
Operating the account:
Yes. Money can be withdrawn by the account holder:
Limits may apply depending on which method you choose to make the withdrawal. See our payment table for more details. This can be found at danskebank.co.uk/docs under Personal Current Accounts and Savings Accounts.
Interest is paid ‘gross’. This means that we do not deduct tax from the interest we pay. Depending on your personal circumstances, you may have to pay tax on your interest.
AER stands for 'Annual Equivalent Rate' and illustrates what the interest rate would be if interest was paid and compounded (paid on the total balance including previous interest) once each year.
Rate correct as at 01/03/2022
The information provided in this summary box includes the key features of the account only and is not intended to be a substitute for reading the terms and conditions that apply to the account.
You can apply to open a Junior Savings Account online if:
Before you apply online please make sure you have an image of suitable ID for the child saved on your computer or phone, ready to upload.
Apply for a Junior Savings Account online
If your circumstances do not fit the above criteria or you do not wish to apply online, please call 0800 660 033 to arrange a meeting in your local branch. (Phone lines are open from Mon-Fri: 8am - 6pm/ Sat & Sun: 9am - 5pm)
Pondus loves coins - big or small, he'll take them all.
You can give him as much or as little money as you like.
When he's full, treat yourself to something special. Or bring the coins into your local Danske Bank branch.
Pondus is named after a real penguin that lived in Copenhagen Zoo in the 1960s. Pondus, wearing a red scarf, appeared in a series of children's books and has been used as Danske Bank's moneybox mascot since 1967. Pondus swam over to Northern Ireland in 2009, and if you have a Junior Savings Account, you'll get to take him home.