Ethical bank launches new child savings account

Triodos, the ethical and sustainable bank, has launched a brand new savings account offering its customers the chance to access some of the best savings rates on the market.

The Right Start Saver is an easy access children's account paying 0.8 per cent, which reflects the growth of consumers looking to save for their child's future and can be opened with as little as £1.

Opinium Research recently carried out an online survey of 2,000 UK adults and one in six parents said their child was already saving for themselves.

Figures from the bank also reveal that more than one in four parents and 20 per cent of grandparents are currently saving for their children or grandchildren, showing that many parents feel it's important to get their children off on the right footing early on.

Huw Davies, head of personal banking at Triodos Bank, said: "Despite widespread disillusionment with the mainstream banks, over five million adults remain with the bank their parents set up for them as a child."

Sainsbury's Finance recently urged retail banks to make the process of saving easier, following the success of its own SaveBack scheme.
 

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2011-02-22 12:30:08 © Moneyextra.com