Buckinghamshire BS unveils children's savings accounts

The A* account is a bond designed for children from birth to mature on their 16th birthday. The interest rate on the account is variable, but guaranteed to be equal to the rate paid on the society's one year fixed rate bond issue, currently 3% gross pa/AER. Access to the money is only permitted on maturity and interest is payable annually at 31 December into the account and on maturity. The alternative is the JS100, a variable rate savings account available to under 18s which allows the child access to the money. It is currently paying 3% gross pa/AER, with withdrawals available...