New savings accounts for children from Clydesdale and Yorkshire

Clydesdale and Yorkshire Banks are to launch two new savings accounts for children.

Headstart and Jumpstart Savers Accounts are designed to help parents save for their child's future and also to encourage youngsters to start saving themselves.

Headstart allows parents to put away money to help towards the cost of going to university, buying a first car or home or just to give their children a financial helping hand.

The 95 day notice savings account for youngsters up to the age of 17 allows parents to save with control passing to the child on their 17th birthday.

Key features of the account include:

Interest linked to Bank of England base rate
Save as much or as little as you like
Withdraw cash by giving 95 days' notice
Get your child into the habit of saving

Jumpstart is a Child Instant Access Savings Account for children aged 6 to 17 with youngsters aged 11 and over able to have their own Dual Function Card

On opening the account youngsters aged 6-10 will receive a free watch and 11-17 year olds receive a set of earphones.

Key features of the account include:

Dual Function Card for youngsters aged 11 (with parental consent)
Interest paid quarterly
Save as little or as much as you like

Steve Reid, Retail Director for Clydesdale Bank, said: "We are committed to providing a range of competitive accounts for all stages of life. Headstart and Jumpstart are the ideal way for parents to invest in their child's future and to set a good example by encouraging youngsters to start saving from an early age."

More information is available online at cbonline.co.uk or ybonline.co.uk.