Savings earn a competitive annual dividend*
You’re never too young to start saving!
Penny Post’s Young Saver Account is a great way to teach children to save and manage money, or for parents, guardians and grandparents to put money aside for their youngsters on a regular basis.
Children or grandchildren of Penny Post members aged from birth to 18 years can open a Young Saver account. Putting a little aside for your family on a regular basis is an easy way to help your family prepare for the future.
We all know birthdays are special! So our Young Savers receive birthday cards from the Penny Post team AND we credit their savings account with a £10 birthday bonus each year! That’s up to £150 in birthday bonuses for Penny Post Young Savers, in addition to our competitive annual dividend.
Young Savers also receive the Penny Post Mail, our Newsletter for Penny Post Young Saver.
Members can open a Young Saver account in minutes using Nivo or login to Online Banking and complete the online Young Saver Membership form today! You will need a picture of the child’s Passport or Birth Certificate as proof of identity. (Unfortunately, we are unable to identify Young Savers electronically).
*Make sure you quote the child’s initials & membership number as the reference (eg AB12345), so we can allocate funds to their account.
Good news -the account will automatically be converted to an adult regular saving account, with all the benefits of being a Penny Post member. We will require Proof of Identity and address at the time, as the trustee will no longer be linked to the account.
* The dividend is dependent on the performance throughout the year and current regulations. It is agreed by the Board of Directors and members at the Annual General Meeting.
Manage your account, request withdrawals, apply for loans and so much more…
How much can I save?
Members deposits are limited to £1,000 each month, across all their Penny Post savings accounts.
Use our savings calculator to see how much you could save