Children's Safari Saver Account

Features and Benefits

• Competitive rates: Benefit from a competitive variable interest rate to maximise growth on savings.
• Easy management: Receive annual statements that outline how much money has been saved and how much interest has been earned over the last year.
• Save when it suits: Deposit children's weekly allowance, birthday gifts, holiday money, or other payments.  
• Instant access: Withdraw funds whenever you wish. 
• Account ownership options: Adult-led, joint, or child-only options. 
• Financial education: Teach your child valuable money management skills from a young age.

Understanding the Account

• Withdrawal options: Instant access to withdrawals.
• Annual Equivalent Rate (AER): A preview of how much interest you could earn each year if you kept your money in the account for a full year and the interest rate didn't change. 
• Deposit Interest Retention Tax (DIRT): A tax payable on the interest you earn from your Savings or Deposit Account. It is automatically deducted when you receive your funds. However, you may not have to pay DIRT. Further information on DIRT exemptions can be located on the Revenue website.
• Interest is paid on the first working day after 20 November each year and is subject to DIRT at the prevailing rate which is subject to change.

Terms and Conditions.

Children under 7

• When opening a Children's Safari Saver Account for children under 7 years old, the account is registered under the name of the parent or legal guardian. 
• Although the account is in the adult's name, the child's name is noted on the account ensuring the account is designated for the child's savings.  

Children over 7

When opening a Children's Safari Saver Account for a child aged between 7 to 12, there are a few options available regarding account ownership. 

Adult-led account

Open the account in your name, with your child's name also noted on the account. This means you're in charge of the account, but it's all about saving for your little one.  

Joint ownership

Open the account together, with both you and your child as account holders. This way, you both get to manage and access the savings, making it a real team effort! 

Child's name only

If your child is ready to take charge, you can open the account solely in their name. This means it's their account, and they can start learning about managing their money.

Children 12+

Account holders can continue to hold a Safari Saver after the age of 12. Feel free to reach out to us anytime to discuss changing your account and the range of options we have available.