Advanced Search

SHEPHERDS YOUNG SAVER PLAN
Shepherds Young Saver Plan (Childrens Account)
        
£30 Love2Shop gift card when you take out a plan today. Give your children a real head start. Our Young Saver Plan savings account lets you save up to £1200 a year TAX-EXEMPT with no tax to pay on the final lump sum and sickness benefits of up to £400 a month if your child is ill for 4 weeks or more.
Location: UK
Account Name: Shepherds Young Saver Plan
Advantages:
1. Flexible savings - Save from as little as £7.50 right up to £100 a month and vary your premiums to suit your circumstances.
2. TAX-EXEMPT growth and lump sum - You won't have to pay a penny in tax on the growth of the savings fund or on the final lump sum payout.
3. Sickness benefits for peace of mind - After the child's 5th Birthday, the parent can claim up to £400 a week in benefits to help cover the costs, if the child is ill for over 4 weeks.
4. You can make a withdrawal at age 11 - While the plan is designed to run for at least 10 years, parents or guardians have the option of withdrawing up to 25% of the fund when the child reaches age 11.
Disadvantages:
1. You may get back less than you have paid in
2. Early encashment penalties, which would reduce the amount of the final payout
3. Bonus rates vary from year to year depending on the performance of our investments and the amount of sickness claims experienced. In some years we may not pay out any at all
4. If money is taken out at age 11, this will reduce the amount the child receives at the end of the plan
Services:
At age 11 the parent/guardian may, on behalf of the child, withdraw up to 25% of the value of the child’s fund without reducing the value of the sickness benefit.

Interest AER: Dependent on investmentInterest Gross: Dependent on investment
Interest Paid: MaturityMinimum Income: £0
Overdraft Rate: N/A
Banking Charges: £0
Service Charges: £0
Account Access: Online. Post, Tel
Withdrawal Access: Up to 25% of the value when the Child reaches 11 years old

Free Banking: YesDebit Card: No
Cheque Guarantee Card: NoStanding Orders: No
Direct Debits: NoOverdraft Facility: No
Account Manager: No

Conditions:
Under 16 years of age
Features:
Due to the flexibility of the plan, you can choose a premium to suit you. If your circumstances change you can increase or decrease your premiums up to a maximum of £100 and a minimum of £7.50 a month, without penalty.
Introductions and Offers:
£30 Love2Shop gift card when you take out a plan today
Terms and Conditions:
If you need to stop paying premiums, you should contact our head office as quickly as possible to discuss what options are available to you.
        
REVIEWS
Shepherds Young Saver Plan (Which Way To Pay - 12/11/2013)
Shepherds Young Saver Plan is ranked 4 out of 5. Based on 1 review.

4 Star Rating

News and ChartsNEWS / CHARTS

For once we are seeing Car Insurance Prices Drop since 2014
31 August 2018 - Which Way To Pay
A statement released last week , states that Car Insurance can be dropping by as much as 11% .
Read More >>
Is Everything covered for that Big Day ? Wedding Insurance
31 August 2018 - Which Way To Pay
Planning your wedding is one of the happiest times in your life , however we always need to make sure that we are covered for every penny spent . Wedding Insurance is a Must
Read More >>
Forever monitoring your endowment policy ?
08 April 2017 - Which Way To Pay
If this is your case then why not sell your policy on to make yourself some cash , and get what its worth.
Read More >>
Shepherds Young Saver Plan
Apply for Shepherds Young Saver Plan