Young Savers

Young people (under 16 years) can be enrolled by parents/grandparents as Young Savers. For these savings, we can pay interest.

For the year 2024/25 the interest rate for young savers will be 1.5% applying only to the first £3000 of share balances. The payment of interest to young savers is at the discretion of the Community Bank Board and is subject to available funds.

When applying for a Young Saver account, please note that you should enter the details for the young person and, in the space for national insurance number, put SL 00 00 00 A This will indicate to us that the young person does not have a national insurance number