AIB Junior Saver

At AIB we welcome all savers. That's why we have an account especially for children called an AIB Junior Saver Account. When you open an AIB Junior Saver Account between 3rd January and 28th February 2012 you will receive a:

Good habits start with the 'Savings Gang'

At AIB we recognise the importance of a child's first savings account, being a milestone in developing a relationship between children and the bank. Parents want to get their children into the habit of saving and help them build better financial planning skills for their future. They need them to understand the concept and value of money. To guide parents and kids through this growing up process we have developed the 'Savings Gang'.

The 'Savings Gang' are a group of characters designed to help teach and encourage children about saving. To meet the the 'Savings Gang' visit www.aib.ie/thesavingsgang .

So why not open an AIB Junior Saver Account for your kids today, it could be the start of something big.

So how does it work?

• AIB's Junior Saver Account is only for kids under the age of 12.
• You can save any amount as often as you like.
• Withdrawals can be made at any time.
• Interest is 1% above AIB's variable demand deposit rate. (View our Deposit Interest Rates in our Related Information section or check the notices displayed in our branches).
• Interest is paid every three months.
• AIB Junior Saver Account holders are exempt from all account maintenance and transaction fees on their AIB Junior Saver Account. Other service charges may apply. (For details see "A Guide to Fees and Charges for Personal Accounts" below).
• You will receive an annual statement of account.

Who can lodge to or withdraw money from the account?

Anyone can lodge to the account. Until the child named on the account reaches the age of 7, withdrawals can only be made by the Parent/Guardian of the AIB Junior Saver Account. On reaching the age of 7, this instruction can be changed by the Parent/Guardian to allow the child to withdraw money from the account.

Tax on Interest earned on AIB Junior Saver Account

• We will deduct Deposit Interest Retention Tax (DIRT) at the prevailing rate unless you are entitled to an exemption from DIRT, from all interest earned, and we will pay this directly to the Revenue Commissioners (for more information go to www.revenue.ie).
• To the extent that DIRT has been deducted there is no further liability to Irish income tax, but you may be subject to PRSI/Health levy.

Make your money grow as fast as they do with an AIB Parent Saver Plan

You can open an AIB Parent Saver Plan to save for any child under 18 years of age. It is an easy way to put money away for your child's future.

How to open an account:

Call into your local AIB Branch and pick up an application form to open an AIB Junior Saver Account and/or an AIB Parent Saver Plan or call 1890 724 724 from Monday to Friday 8am - 9pm and Saturday 9am - 6pm.

In order to comply with legislation to combat money laundering and terrorism financing, we will need to see suitable documentation to verify both your identity and your current permanent address.

Proof of Identity: A valid Passport, Driver's Licence, National Identity Card Proof of Current Permanent Address (Documents must be no more than 6 months old): Utility Bill, Correspondence from a Regulated financial institution (insurance/assurance co., bank, building society, credit card co.), Correspondence from a government department/body.

Note: Please talk to one of our staff at your local AIB branch if you do not possess the documentation outlined above. The name on your photographic identification must exactly match the name on your proof of address.

Important/Regulatory Notice

An AIB Junior Saver Account means a current account with the Bank in the name of a customer who is under the age of 12 years.

The AIB Junior Saver Account Book should be produced at the time of any lodgements or withdrawals, but the Bank may permit transactions without production of the book, and the balance shown on the Bank's records of the account will be conclusive.

Upon the Customer attaining the age of 12 years, the Bank may convert the AIB Junior Saver Account to an AIB Student Account.

The customer must be the beneficial owner of all funds lodged to the AIB Junior Saver Account.

In relation to the AIB Parent Saver Plan - where a third party is opening an AIB Parent Saver Plan, the parent of the child must give consent before the Plan is opened. The Parent Deposit Account is opened automatically with the Parent Saver Account and both make up the AIB Parent Saver Plan. The Parent Saver Account is dependant on maintenance of the Parent Deposit Account, if you close your Parent Deposit Account we will also close your Parent Saver Account.

Terms and Conditions apply. Please view the Terms and Conditions for Current Accounts and Demand Deposit Accounts and the AIB Parent Saver Plan below.

• Terms and Conditions for Current Accounts and Demand Deposit Accounts
• A Guide to Fees and Charges for Personal Accounts
• Information Leaflet for AIB Junior Saver Account
• Terms and Conditions for the AIB Parent Saver Plan

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