Junior Savings Account

• Yes, this rate is variable. We can increase or decrease the credit interest rate for any of the reasons set out in the General Terms and Conditions - Personal Banking (PDF). For more information, refer to Clause 16.2.
• We’ll give you 2 months’ notice of any reductions to the credit interest rate, allowing you to review your savings options.
• We may increase the credit interest rate immediately and advise you on your next statement.

The Junior Savings Account is suitable for a child aged 10 years and under. An adult can open the account to save on behalf of the child, or the account can be opened in the child’s own name if they are age 7 or over. 

Opening an account in the child’s name, so the child is the account holder

• The child must be between 7 and 10 years old.
• If the child is a new customer to Danske Bank, they must be a permanent resident in Northern Ireland.
• If the child and/or the child’s parent/legal guardian is an existing Danske Bank customer, the child must be a permanent resident in the UK.

How to open the account?

• The account can be opened in Branch. 

What happens at age 11 years when the child is no longer eligible for a Junior Savings Account?

The Junior Savings Account will automatically change to a Danske Discovery Savings Account at age 11. We will write to the account holder before this happens. 

Options for operating the account

• Open and maintain the account with as little as £1.
• There is no maximum amount of funds which can be held in the account.
• The child can access the account at any time in branch.
• Receive a paper statement at least every 6 months.

Opening an account in the name of the adult for the benefit of the child, so the adult is saving and operating the account on behalf of the child

• The child must be aged 10 years or under.
• The adult is the accountholder, holding the account in trust for the child.
• If the adult opening the account is a new customer to Danske Bank, they must be a permanent resident in Northern Ireland, and the child must be a permanent resident in the UK.
• If the adult opening the account to save on behalf of the child is an existing Danske Bank customer, the adult and child must be permanent residents in the UK.

How to open the account

• The account can be opened in Branch.
• Or, if the adult is a parent or legal guardian and an existing Danske Bank customer, they can open the account online. 

What happens at age 11 years when the child is no longer eligible for a Junior Savings Account?

• The Junior Savings Account will automatically change to a Danske Discovery Savings Account at age 11. We will write to the adult account holder before this happens.  The Danske Discovery Savings Account pays the same rate of interest as the Junior Savings Account.
• The account will remain in the name of the adult for the benefit of the child until the adult requests the account to be transferred into the child’s sole name (where they are aged 7 or over) or the child turns age 18, whichever happens first. The account will automatically amend into the child’s name at age 18.

Options for operating the account

• Open and maintain the account with as little as £1.
• There is no maximum amount of funds which can be held in the account.
• The adult can access the account in branch, by phone, by writing to us, or by using eBanking or Mobile Banking (if they are registered for these services). 
• We’ll send the adult a paper statement at least every 6 months unless you’ve asked to receive your statements electronically with eBanking. You can ask to change to electronic statements at any time using danskebank.co.uk/gopaperless.

If you hold a Junior Savings Account saving on behalf of a child, which was opened before July 2021 and the account has not been amended at age 11, please contact one of our Branches and we can discuss your options and arrange to do this for you. 

• 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 means ‘annual equivalent rate’. It tells you how much interest you’d earn if you put money in an account and left it there for a full year. It includes how often the interest is paid and assumes any interest paid during that year is added to the balance and earns interest.
• This account is not suitable for day-to-day banking.
• Rate correct as at 26/06/2025.

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.

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