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We'd like to make you aware that our planned changes to Isle of Man Bank came into effect on 28 May 2019
Our proposal to move the Isle of Man Bank business from Isle of Man Bank Limited to the Isle of Man branch of The Royal Bank of Scotland International Limited was approved by the Isle of Man High Court of Justice on 21 May 2019. The changes came into effect from 28 May 2019.
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First Saver
Our Children’s Savings Account
Making saving fun for kids
First Saver Account
We’d all like our children to be good with money and get into the savings habit from an early age. That’s why our new First Saver account is designed to help children save and Pigby and friends are here to make it fun along the way. Opening a savings account is a great first step for children to learn how to be responsible with money.
Our First Saver account is available to children under 16. Accounts can be opened on behalf of a child, or if they are aged over 7, the account can be held in the child’s name with the consent of their parent or guardian.
There are lots of benefits to becoming a First Saver (not forgetting Pigby, of course!):
- Start saving from as little as £1
- Instant access to your money
- A free Pigbybank to help children start saving those pounds and pennies
- Easy access to Pigby’s savings tips & tricks
First Saver
Free Pigbybank to new First Saver customers
Open a First Saver account and your child will receive their very own free Pigbybank to help get them saving! Pigbybanks are strictly limited to one per account and are only available to new First Savers.
Pigby’s top savings tips
- If your children have been given money, encourage them to save some of it
- Explain that sometimes you have to wait before you can buy something you really want – that’s why saving is important
- Explain the difference between things you want and things you need, this will help children have a specific goal to save for
First Saver
Introducing Pigby & Friends
We’d all like our children to be good with money and get into the savings habit from an early age. That’s why our new First Saver account is designed to help children save and Pigby and friends are here to make it fun along the way.
First Saver
Important information
First Saver
What’s next?
First Saver
Rates
| Balance | Gross Rate | AER (variable) |
|---|---|---|
| £0+ | 0.50% | 0.50% |
Interest paid quarterly
Rates correct as at 3 January 2017
Common definitions
Gross Rate
This means the interest rate you are paid before the deduction of tax.
Annual Equivalent Rate (AER)
This is a notional rate used for interest bearing accounts which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.