Who is Sebastian the Squirrel?
Sebastian the Squirrel is our acorn saving professional, whose here to help young people understand the importance of saving.
Product Details
Account name
My Squirrel Saver - 647
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 12th birthday.
The actual rate received may differ from the AER as some of the money that is paid in will have been in the account for less than one year.
(*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 the maximum opening balance of £150 and made the maximum investment of £150 on the 1st of each month, the total amount deposited over a one year period would be £1,800.00 earning £26.79 interest. This would result in a total balance of £1,826.79.
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 customers between the ages of 0 - 11 years of age, who are individual personal savers resident in the UK. Only one account per person is permitted.
Only one account per person can be opened.
This account requires an account operator.
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?
£150 per month.
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
This account requires an account operator.
On the child’s 12th 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.
You are not obliged to save into your account every month and you will not be penalised if you miss a monthly deposit.
Application forms
Savings Application Form (Under 16's) My Squirrel Saver
Savings Application Form (Under 16's) My Squirrel Saver
Please confirm that you have read the below documents by ticking the box to the left. You can print these documents if you would like to retain a paper copy for your records.
Prior to coming into one of our branches with your application, please ensure you have the relevant documents below -
- A completed and signed application form
- Children's ID (you can find our identification requirements here)
Once you have filled out your application form, print it out and bring it to one of our branches which can be found here.
If you wish to open your account by cheque please ensure you bring your deposit.
Contact Us
If you wish to find out more information or get support with your application, contact our friendly Customer Service team.
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