Toys are for Christmas, savings are for life

Children will receive a special gift from Britannia Building Society when their parents or grandparents open a savings account for them in November and December.

Britain's second largest mutual is giving away a "paint your own" pig with every children's account opened. The offer applies to all of Britannia's children's accounts including its Child Trust Fund with a whopping rate of 7.50%.

Tim Franklin, Managing Director of Member Business, explained: "Christmas is an expensive time of year. Parents spend a lot on their children and by the New Year many of their new toys are left to one side and forgotten about.

"By opening a savings account and regularly putting away a few pounds, parents will be investing in their child's future and will see their money grow instead of disappear. They'll also be teaching their kids a valuable lesson in financial education - getting in to the habit of saving regularly."

Britannia's children's accounts are easy to open and can be started with as little as £1. They can be opened via one of Britannia's 254 branches throughout the country or over the phone.