Bradford & Bingley aims to get children saving

Bradford & Bingley has launched two new products aimed at getting young people saving.

The financial services sector and the government are keen for more people to save for the future whether in pension schemes, ISAs or other types of investment schemes.

Young people are particularly important because savings habits learnt now will ensure there is a decent crop of savers for the future.

"We have designed both these products to help encourage children and young people to start to save and understand the value of money from an early age," Steve Potter, head of savings at Bradford & Bingley.

"We think the competitive rate plus an attractive bonus will provide youngsters with the incentive to take out the accounts and save for their future."

Young people will need just £10 to open their new account.