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  - Ready Steady Save

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For when choosing the right account gets too tough.

Ready Steady Save

Where am I?

Teach your children to save for the future

An easy access account especially for children. It's operated through our branches and has a variable interest rate. You can apply either at a branch or by post.

2.00%

gross pa/AER
variable

How to apply

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Key features
Terms
Summary box
Interest rate
How to apply

Key Features

Designed for children aged 15 or under who want to start saving.
Under 10s need a parent/guardian to open the account
Save from £1 to £20,000
Interest earned from £1 and paid annually on 1 December
Instant access to savings
Passbook operated.

Terms

The product terms should be read with the Standard Terms and Conditions (Standard Terms). Together the Product Terms and Standard Terms explain how your account works.

It is important that you read all the terms applicable before you decide whether to open this account.

1. General

The terms that apply to Ready Steady Save are these product terms and our savings account standard terms and conditions ('standard terms'). If there is any conflict between the product terms and the standard terms then the product terms apply.
This account is one regulated by the Financial Services Authority's Banking Conduct of Business Sourcebook.
Opening this account means you will become a member of Yorkshire Building Society. However, until you reach 18 years old your membership will be limited, which means that you will not be able to vote at general meetings, and you will not be told about these meetings.
You can only open this account if you are under 16.
If you are aged between 10 and 15 and would like to open an account in your own name, the account must be opened at one of our branches. An account may be opened by post on your behalf (by a parent(s) /guardian(s)).
If you are under the age of 10, the account can only be opened by your parent(s)/guardian(s) on your behalf and may be opened either at any of our branches or by postal application.
Only one account may be opened by you or on your behalf.
You can put money in or take money out of your account either at one of our branches in person or by post.
If we make any changes to these product terms or our standard terms we will notify you in accordance with Condition 6.6 of our standard terms.

2. Your savings limits

You will need at least £1 to open this account.
The most you can save in this account is £20,000.

3. Earning interest on your savings

The interest rate on this account is not fixed, and can go up or down. The reasons why we would change your interest rate, and the ways we would tell you, are listed in the standard terms. We will notify you of any interest rate variation in accordance with Conditions 3.5/3.6 of our standard terms.
Interest is paid once a year on 1 December.
The interest you earn will be added to the savings in your account.

4. Withdrawals

You can take money out of your account in cash or by cheque, except that any withdrawal you make must not exceed the daily limits we set.
If you pay a cheque into your account, you can take some or all of this money out after five 'working days'. 'Working day' means any day other than Saturday, Sunday, bank or public holiday.

Standard Terms

Read and print the Standard Terms and conditions for this account.

Summary box

Summary Box Key Product Information for our Savings Account
Account Name	Ready Steady Save
Interest rates (AERs)	Variable rate paid annually. See interest rate
Tax Status	Gross or net
Conditions for bonus payment	N/A
Withdrawal arrangements	Instant withdrawals without loss of interest
Access	Branch or post

Net: Interest on investments and savings amounts is payable net of income tax, which means after the deduction of income tax at the lower rate of 20%, or subject to the required registration gross.

Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future.

Interest rate

Previous rates
Prior to 27 March 2010

Current rates
Effective 27 March 2009

Balance (£)	Annual Interest Rates			Monthly Interest Rates
Balance (£)	Gross Gross rate is the interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.	Net Net rate of interest is the interest rate payable after the deduction of income tax, at the lower rate of 20%.	AER AER stands for Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.	Gross Gross rate of interest is the interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.	Net Net rate of interest is the interest rate payable after the deduction of income tax, at the lower rate of 20%.	AER AER stands for Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
£1 & above	2.00%	1.60%	2.00%	n/a	n/a	n/a

Previous rates
Prior to 27 March 2010

Current rates
Effective 27 March 2009

Balance (£)	Annual Interest Rates			Monthly Interest Rates
Balance (£)	Gross Gross rate of interest is the interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.	Net Net rate of interest is the interest rate payable after the deduction of income tax, at the lower rate of 20%.	AER AER stands for Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.	Gross Gross rate of interest is the interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.	Net Net rate of interest is the interest rate payable after the deduction of income tax, at the lower rate of 20%.	AER AER stands for Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
£1 & above	2.10%	1.68%	2.10%	n/a	n/a	n/a

How to apply

This savings account can be operated in various ways and can be opened at a branch or via the post.

Note: When applying for an account you will need to verify your identity and address. Check our verify your identity and address section for more details of what you may need to take with you.

Making an application

More information:

Call us on 0845 166 9219
Lines are open:
Monday - Friday: 8am to 8pm
Saturday: 9am to 1pm

Contact us

Best Child Savings Account HIGHLY COMMENDED Chelsea Building Society Ready Steady Save

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Chelsea Building Society and the Chelsea are trading names of Yorkshire Building Society. Principal Office: Yorkshire House, Yorkshire Drive, Bradford, BD5 8LJ. Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. We are entered in the Financial Services Register under registration number 106085.

Buy to Let mortgages are not regulated by the Financial Conduct Authority.

Any reference on this website or in our literature to the Financial Services Authority (FSA) should be deemed to mean the Financial Conduct Authority (FCA) and
the Prudential Regulation Authority (PRA)

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Buy to Let mortgages are not regulated by the Financial Conduct Authority