My Reward Saver - 732

Young Savers
Annual Variable Interest % AER*
£10+
2.75%

Key features

Save up to £30,000.

2.75% on balances £10+.

Interest is paid annually on the 31st March and on account maturity on the child's 17th birthday.

£10 minimum opening balance.


*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. Interest is paid annually unless otherwise stated.

What you will need:

Your address details for the last 3 years, including postcodes.

Your mobile phone number.

To apply, you must:

Be between 12 and 16.

Be a personal saver who is resident in the UK.

Product Details

Account name

My Reward Saver - 732

What is the interest rate? AER*

2.75% annual interest rate* on balances £10+.

Interest is paid annually on the 31st March and on account maturity on the child's 17th birthday.

(*AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year)

Can Dudley Building Society change the interest rate?

The interest rate on this account is variable and the Society may make changes to this rate at any time. We will notify you of any changes in accordance with the Terms & Conditions.

What would the estimated balance be?

If you were to open this account with £1,000 and no further deposits or withdrawals were made you would earn £27.50 interest. This would result in a total balance of £1,027.50.

Please note this is an illustration only and does not reflect your specific circumstances.

How do I open and manage my account?

Who is eligible?

This account is available to new and existing individual personal savers resident in the UK aged between 12 and 16.

Only one account per person can be opened.

Parents or adults can sign for withdrawals until you are 16 or you can open and operate your My Reward Saver Account in your own name.

How do I open my savings account?

You may open your account at any one of our branches or via post.

Original or certified identification must be presented for the child at the point of opening the account.

How do I operate my account?

Any queries regarding your account can be dealt with via branch, email or telephone. Instructions on your account are required in person, at branch or in writing.

What is my minimum opening and operating balance?

£10.

What is my maximum operating balance?

£30,000.

What is my maximum investment?

£30,000.

Can I withdraw money?

Instant access withdrawals are permitted with this account.

You may make a withdrawal in person at a branch or in writing.

All withdrawals must be for the benefit of the account holder. You may sometimes be asked for additional information on any transaction relating to this account. We do this as an extra measure to make sure the account holder's interests are being protected.

Additional Information

Parents or adults can sign for withdrawals until you are 16 or you can open and operate your My Reward Saver Account in your own name.

On the child’s 17th Birthday, the account will mature into the next savings account we have available for their age range. We will contact the operator or account holder in advance.

Additional investments are permitted.

The product has a quarterly prize draw for account holders. To qualify, the parent or guardian of the account holder must sign the declaration and hold a minimum of £10 in their account.

Terms and conditions.
Application forms

My Reward Saver Application Form pdf icon Identification Requirements for Private Individuals pdf icon
How to apply for our My Reward Saver

Branch

Find your nearest branch for more information or to make an appointment.

Find a Branch

Post

You can apply now by printing the relevant application form at home.

Apply now
Contact Us

If you wish to find out more information or get support with your application, contact our friendly Customer Service team.

Contact Us
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