Saving for your
child’s future
Little by little,
it all adds up
You may have money to save for something in your children’s future.
Or maybe you want to put aside Child Benefit each month
so that it adds up to something big later in their lives. At AIB,
we have savings accounts for every type of saver.
This booklet gives you ideas about the type of savings accounts
you can open at one of our branches. You can also save online. See
our brochure ‘Great ways to save with AIB’ for more.
Keeping an eye on the savings.
If you would like to save for your child’s future, it’s best to open
an account in your name. You can always put the purpose of your
savings, for example your child’s name, as the title on the account.
The account will still be in your name only and you will have full
control.
On the other hand you may want to have your child more
involved in which case we can open an account in both your
names. This way your child can use the account and you
can see how they are saving or spending their money.
They may receive money from relatives which they
can put in the account which encourages a little
responsibility around savings. Remember,
if aunties, uncles, grandparents or other
friends and family would like to save in a
joint account with your child, they can do
so once you, as the parent /guardian,
provide your consent.
If your child would like to start saving
in their very own account, AIB
have designed the Junior
Saver Account and the
Student Saver Account
exclusively for young
people between the
ages of 7 and 17 inclusive.
There’s more about this option later
in this booklet.
Make the right
savings choice
We’ve got lots of ways you can start putting money away for your child’s
future. Here are some ideas. You’ll find out more about them, including
our interest rates when you ask at your branch.
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Demand Deposit
AIB Saver
Notice Deposit
Fixed Term Deposit
Everyone needs to dip in to their
savings from time to time. With an
AIB Demand Deposit Account, you
can earn interest on your savings,
but you can still access your
money whenever you need to.
High interest rates usually mean
that your money is tied up for long
periods of time, but with our Notice
Deposit Accounts, you can earn
an attractive rate of interest just by
giving us a little notice when you
want to access your money.
This account is designed especially for
regular savers, allowing you to save what
you want, when you want and how you
want. AIB Saver Accounts are available to
existing AIB personal customers with an AIB
payment account to facilitate their regular
monthly savings.
If you can manage to put a large lump
sum away for a certain term, then you
can benefit from the security of a fixed
rate of interest. With fixed term deposit
accounts, you can lodge money for a
fixed term and withdraw it at the end.
Saving on their
own with an
AIB Junior
Saver Account
Encouraging them to save regularly is one
of the best starts in life you can give your
child. It’s one of the first big steps towards
helping them make important decisions
and plan their own future. Little by little,
they can watch their money grow (almost
as fast as they do…).
At AIB, we designed a Junior Saver Account
with a great interest rate especially for
younger savers.
If your son or daughter is between 7 and
11 years inclusive, they can open a Junior
Saver Account with parental consent.
When visiting your branch with your child
to open an account, we ask that you bring
FREE
along a copy of your child’s birth certificate
or the applicable court order (or other
relevant documentary evidence) as proof
of parenthood/guardianship. We also need
suitable documentation to verify both your
identity and residential address. We will
open the account in the name of the child
who will be the beneficial owner of the
funds. Please ask at your branch for more
information.
Your child can save pocket money in their
very own account with help from the
‘Savings Gang’, Lolly, Bob, Mr. Dough,
Richie, Bucks and Quids.
Savings Gang money box for all savings
accounts opened for under 12s.
Student Saver
Account
By starting to save now, and by putting a small
amount aside regularly, students can save
for special occasions like Christmas, summer
holidays, or a laptop. If your son or daughter
is aged between 12 and 17 years inclusive and
would like to open a Student Saver Account,
ask how it’s done at your branch. If your child is
under 16, they will need their parent’s
consent to open a Student Saver Account.
You will need to provide a copy of your child’s
birth certificate or the applicable court order
(or other relevant documentary evidence)
as proof of parenthood/guardianship. We also
need suitable documentation to verify both
your identity and residential address.
Would you like to know more about
ways to save
with us?
3 EASY
WAYS TO APPLY
Online:
www.aib.ie/saving
Branch
Drop into
any AIB branch
Phone:
Call 1890 724 724
8am - 9pm Monday to Friday
and 9am - 6pm on Saturdays
Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland.
1890 724 724
www.aib.ie/savings
AIBM/Y0 09/16