Tax efficient savings

Instant accounts

Saving is fun. And it's even better when you get a secret money box, savings graph and a place to keep track of your money.

Start small- you can open an account with just £1
Responsibility- you can take out up to £10 a week, without permission from a parent or guardian
Earn interest every quarter- with the interest we pay, your money will soon grow. And if you don't pay tax, just fill out a form and you won't get taxed on your interest either
Rewards- collect Ollie tokens and redeem them for Ollie goodies like watches, rubber ripper wallets, mini radios and much more. Pay in £5 and you get a token
Check your account- a Club Cashline card allows you to check your balance and learn about cash machines
Get your money- use your personal withdrawal book at any branch of The Royal Bank of Scotland

Amount	Gross Rate %	AER% (variable)	Net Rate %	Effective from
Any amount	0.50	0.50	0.40	24/07/2009

Gross rate - is the interest rate paid before the deduction of tax.

Annual Equivalent Rate (AER) - illustrates what the interest rate would be if paid and compounded each year.

Net Rate - is the interest rate paid after deduction of tax.

Interest is paid gross or net of the lower rate of Income Tax depending on your tax position.

New customers will be asked to provide proof of identity, verification of address and signature.

Calls may be recorded.

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