For a convenient regular savings account for the payment of Child Benefit, which offering a medium term Tax Free return, why not consider our State Savings™ Childcare Plus Account.

Key features:

Direct payment of Child Benefit to the account each month by Electronic Funds Transfer (EFT)

12 month saving cycle which is left on deposit for a further 5 years

20% return after 5 years (AER 3.37%)

Fixed rate of return

Tax Free to Irish Residents

No fees, charges or commission

Maximum savings €12,000 per annum (excess amounts will be transferred to a daily interest bearing account – Childcare Save)

Annual valuation statement of accounts

Access to your money at any time subject to 7 days notice.

Interest is calculated on an annual basis from the end of the savings cycle and no interest is paid if repayment is made before the first anniversary of the completion of the savings cycle. It is not possible to repay interest only.

Notification of the maturity of Childcare Plus accounts will be issued in advance setting out options for reinvestment in State Savings™ products or repayment.

Terms and conditions apply.