Revolve account
- Contactless debit card to make purchases online, in shops and to withdraw cash. Limits apply.
- Manage your money on the go with our safe, easy to use mobile banking app.
- Get interest on your balance.
Earning interest on your account
This account is available to 11-17 year olds who are UK residents. 11-15s must apply with a parent or guardian who has a Royal Bank current account. The child only can give instructions on this account, only they will have access to it via digital banking and the mobile app. App available on selected devices.
Interest is when your money earns money. So, if you had £100 in your account for year, 1% interest would be £1.00. In other words, you get a bit of extra money, just for keeping money in your account. Sweet.
Interest is calculated daily and paid monthly.
Balance |
AER/Gross p.a (variable) |
|---|---|
|
Any amount |
1.85% / 1.83% |
Annual Equivalent Rate (AER): This is a notional rate used for interest bearing accounts which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross Rate: This means the interest rate you are paid before the deduction of basic rate income tax.
Important information
By continuing you're confirming you've been provided with, and have acknowledged our important documents, including the FSCS information sheet.