BRITANNIA International has launched a new Junior Saver account for children up to the age of 16 - just in time for Christmas.
Many children receiving cash gifts from friends and relatives will be looking for a safe home for their money that will earn them a good rate of return.
Mark Beresford, Britannia International's managing director, said: "The Junior Saver account is an important addition to our savings account range. It ensures that we have accounts relevant to all ages that meet the varying needs of savers throughout their lives.
"We also believe it is important for children to get in to good savings habits from a young age. We hope the Junior Saver account can play an important role in the financial education of junior savers and provide them with a solid foundation when they reach 16 and onwards."
The Junior Saver account can be opened with just £10 and up to a maximum balance of £25,000. The account allows easy access with withdrawals and deposits of £10 or more allowed at any time.
Children over seven can open the Junior Saver in their own name. Parents, guardians, and grandparents are able to open the account for children under seven.
The account has been developed specifically for Isle of Man residents with all new accounts opened getting the choice of a £10 WH Smith giftcard or £10 credited to the account.
To find out more on the Junior Saver account visit one of the Britannia International branches in Douglas, Ramsey, and Port Erin or click here.
