Skipton building society has launched a new issue of Leap, its children’s savings account.
The Skipton Leap Account Issue 2 includes a 0.50 per cent bonus for the first year. This gives a rate of 2.75 per cent p.a AER, or 2.25 per cent without the bonus. The savings account can be opened at any Skipton building society branch and children under the age of 17 are eligible. The minimum amount required for opening the account is just £1.
A spokesperson for the building society said the firm hopes the savings account will help parents and guardians save up a “tidy nest egg” for their children which could help them with future aspirations, such as studying or buying a home.
Kris Brewster, head of products at Skipton, said, “Our Leap children's account has been a big hit for some time but we're always looking to review and refresh our products where appropriate and we saw an opportunity to offer something a bit different, with the added incentive of a first-year bonus for parents and children who are prepared to commit to their new account for at least that length of time."
