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Interest paid Opening balance AER Gross rate
Annual £10 1.05% 1.05%
 Monthly £10 1.05% 1.04%
Interest paid Annual Monthly
Opening balance £10 £10
AER 1.05% 1.05%
Gross rate 1.05% 1.04%

Key Facts

Children's account - under 18s only Children’s account – under 18s only
Variable interest rate Variable interest rate
Open by post or in branch Open by post or in branch
Min operating & opening balance £! Minimum opening and operating balance £10
Additional deposits and withdrawals allowed Additional deposits and withdrawals allowed
Your money is protected Your money is protected up to £85,000

Product summary

This summary box contains the specific terms and conditions for this account and, where applicable, supersedes our Savings general terms and conditions.

Account name

Demelza children's savings account - issue 3

What is the interest rate?

Rates effective 11 December 2020:

Annual Interest gross p.a.*

Monthly Interest gross p.a.*


£10+ 1.05% 1.04% 1.05%

*Gross p.a. is the rate of interest paid without the deduction of tax per annum. Please note that the automatic deduction of tax on savings interest ceased with effect from 6 April 2016. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

Interest is calculated daily and can be credited to the account or transferred to your nominated account.

Annual interest is paid on 5 April each year. Monthly interest is paid on the last working day of each month.

Can Kent Reliance change the interest rate?

The interest rate on this account is variable and can change at any time. Up to date information on our interest rates can be found on our interest rates page, in branch or by calling our head office.

If your account balance is over £100, when we make a rate reduction we will personally notify you of the change at least 14 days in advance of the change taking effect.

Please refer to Condition 28 of our Savings Terms and Conditions for full details on interest rate changes

What would the estimated balance be after 12 months based on a £1,000 deposit?

Deposit amount

Annual interest projected balance

Monthly interest projected balance

£1,000 Deposit £1,010.50 £1,010.50

These projections are based on interest being credited to the account, no interest rate changes, no withdrawals and no additional deposits.

The above projections are provided for illustrative purposes only and do not take into account individual circumstances.

How do I open and manage my account?

This account can only be opened by customers under the age of 18. Accounts opened for customers under the age of 7 will require an adult aged 18 or over to open and operate the account on their behalf. Once the child reaches the age of 7, the child may operate the account themselves with the operator’s authority, subject to the withdrawal limits set out in the section below.

The account can be opened and operated in branch or by post.

Minimum opening deposit

Maximum deposit

Minimum operating balance

£10 £25,000 £10

Additional deposits can be made by cash (only available in branch), cheque or bank transfer.

Can I withdraw money?

Withdrawals are permitted without notice or penalty. The following withdrawal limits apply:

  • Up to the age of 7, only the operator of the account may withdraw money.
  • Children aged 7 and up to 12 years of age may withdraw up to £100 per day.
  • For account holders aged 12 years and over, normal withdrawal limits apply                 

If you hold a branch account, take your passbook and a form of ID to your local branch and a member of our team will action your request. For postal accounts, send us a signed withdrawal request to Head Office.

There are different payment cut-off times depending on the method of withdrawal you require. For further details please visit our withdrawals page or call our Head Office.

Additional information

Once the account holder reaches the age of 18, the operator will be removed from the account and the account holder will be free to operate their own account. ID may be required before the account holder can transact on the account.

Once a year Kent Reliance will donate 0.25% of the total average annual balance held in Demelza affiliated accounts from this promotional venture to Demelza Hospice for Children, a registered charity (number 1039651) For information on Demelza Hospice for Children, please visit

We pay interest without deducting income tax, unless HM Revenue and Customs (HMRC)/the law requires otherwise. However, depending on your personal circumstances, you may be liable to pay income tax on the interest you have earned.

Please visit for further information.

Before you apply

Before you apply for an account, please make sure you have read the product specific T&C's, general T&C's and the FSCS information in full. Please also save or print copies of these documents for future reference.

How to apply

By post

Download and complete an application form and send it to the below address with two official forms of ID:
OneSavings Bank
SR43 4AB

Download form

In branch

Just pop into your nearest branch with two official forms of ID… and leave the rest to us!

Branch finder

Other ways to help you save

Our range of savings accounts provides options to suit a variety of savers from online savings accounts to branch-only; short-term to long-term; notice accounts to regular saver accounts.

View all savings products