Saving for your. child s future

Transcription

1 Saving for your child s future

2 Little by little, it all adds up. You may have money to save for something in your children s future. Or maybe you want to put aside Child Benefit each month so that it adds up to something big later in their lives. At AIB, we have savings accounts for every type of saver. This booklet gives you ideas about the type of savings accounts you can open at one of our branches. You can also save online. See our brochure Great ways to save with AIB for more. Keeping an eye on the savings. If you would like to save for your child s future, it s best to open an account in your name. You can always put the purpose of your savings, for example your child s name, as the title on the account. The account will still be in your name only and you will have full control. On the other hand you may want to have your child more involved in which case we can open an account in both your names. This way your child can use the account and you can see how they are saving or spending their money. They may receive money from relatives which they can put in the account which encourages a little responsibility around savings. Remember, if aunties, uncles, grandparents or other friends and family would like to save in a joint account with your child, they can do so once you, as the parent/guardian, provide your consent. If your child would like to start saving in their very own account, AIB have designed the Junior Saver Account and the Student Saver Account exclusively for young people between the ages of 7 and 17 inclusive. There s more about this option later in this booklet.

3 Make the right savings choice. We ve got lots of ways you can start putting money away for your child s future. Here are some ideas. You ll find out more about them, including our interest rates when you ask at your branch. Jan Apr Feb Mar May Jun Jul Aug Sept Oct Nov Dec Demand Deposit Everyone needs to dip in to their savings from time to time. With an AIB Demand Deposit Account, you can earn interest on your savings, but you can still access your money whenever you need to. AIB Saver This account is designed especially for regular savers, allowing you to save what you want, when you want and how you want. AIB Saver Accounts are available to existing AIB personal customers with an AIB payment account to facilitate their regular monthly savings. Notice Deposit High interest rates usually mean that your money is tied up for long periods of time, but with our Notice Deposit Accounts, you can earn an attractive rate of interest just by giving us a little notice when you want to access your money. Fixed Term Deposit If you can manage to put a large lump sum away for a certain term, then you can benefit from the security of a fixed rate of interest. With fixed term deposit accounts, you can lodge money for a fixed term and withdraw it at the end.

4 Saving on their own with an AIB Junior Saver Account. Encouraging them to save regularly is one of the best starts in life you can give your child. It s one of the first big steps towards helping them make important decisions and plan their own future. Little by little, they can watch their money grow (almost as fast as they do ). At AIB, we designed a Junior Saver Account with a great interest rate especially for younger savers. If your son or daughter is between 7 and 11 years inclusive, they can open a Junior Saver Account with parental consent. When visiting your branch with your child to open an account, we ask that you bring along a copy of your child s birth certificate or the applicable court order (or other relevant documentary evidence) as proof of parenthood/guardianship. We also need suitable documentation to verify both your identity and residential address. We will open the account in the name of the child who will be the beneficial owner of the funds. Please ask at your branch for more information. Your child can save pocket money in their very own account with help from the Savings Gang, Lolly, Bob, Mr. Dough, Richie, Bucks and Quids. FREE Savings Gang money box for all savings accounts opened for under 12s.

5 Student Saver Account - we ve got it covered! By starting to save now, and by putting a small amount aside regularly, students can save for special occasions like Christmas, summer holidays, or a laptop. If your son or daughter is aged between 12 and 17 years inclusive and would like to open a Student Saver Account, ask how it s done at your branch. If your child is under 16, they will need their parent s consent to open a Student Saver Account. You will need to provide a copy of your child s birth certificate or the applicable court order (or other relevant documentary evidence) as proof of parenthood/guardianship. We also need suitable documentation to verify both your identity and residential address. Would you like to know more about ways to save with us? For more information visit Call us on (lines are open Monday to Friday 8am 9pm and Saturday 9am 6pm) Or simply drop in to any AIB branch We will be happy to answer your questions and give you our interest rates for deposits. Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland.

6 In Branch. On the phone. Online AIBM/Y0 03/15