CHESHIRE LAUNCHES CHILDREN’S SAVINGS BOND IN TIME FOR CHRISTMAS

2nd December 2009

With all eyes fixed on the economy, those looking for an alternative Christmas present this year could opt to invest in a children’s savings bond to help youngsters get a head start on their finances.

Cheshire Building Society is launching a limited edition, four year fixed rate Children’s Savings Bond paying 5.00% annual gross rate/AER*. Alternatively, interest can be paid on maturity.

Launching on 30th November 2009, the new bond can be opened by visiting any Cheshire branch or by calling its Customer Contact Centre on 0845 755 0555 for an application pack.

Alistair Welham, Head of Products and Marketing at Cheshire Building Society, said: “This is a great way to help children save for their future. The Children’s Savings Bond offers solid returns and for those wanting to give their children or grandchildren a gift that will be appreciated long after the season has past, it makes the ideal present for Christmas.”

A minimum investment of £100 is required to open a bond and no withdrawals or closures are permitted during the term. Providing the bond is still open for new investments, further deposits are allowed by cash or cheque up to the maximum balance of £10,000.

Children must be aged 14 or under when the account is opened and it can only be opened by an adult (aged 18 or over) on behalf of a child.