Give your little ones the best start in life.
At Monmouthshire Building Society, we offer children’s savings accounts for UK* customers designed to suit different needs - from a Junior Cash ISA that locks money away tax-free until age 18, to young saver accounts that give instant access for day-to-day saving. Whether you’re planning ahead for university, a first car, or simply teaching good money habits, our accounts help you build their future with confidence.
*Excluding Northern Ireland
| Interest Rate | Withdrawals | Deposits | Managing the Account | |
| Junior Cash ISA | 2.75% AER/Tax-free |
No, not until the child turns 18 | Subject to Junior ISA annual limits | Managed by an adult |
| Interest Rate | Withdrawals | Deposits | Managing the Account | |
| Young Saver Account | 2.70% AER/Gross |
Yes, you can withdraw funds at any time | Up to a balance of £25,000 | Option to be managed by the child once they turn 14 |
Further information and T&Cs for each of our Children's Accounts can be found by clicking the account name in the table above
Guide to Children's Accounts
Our Junior Cash ISA is designed to keep money saved until the child turns 18, so you can't make withdrawals.
Our Young Savers Account is designed for young people to use the money from their savings throughout their childhood and teenage years, up to the age of 18. The account is instant access and lets you make withdrawals whenever you want.
The Junior Cash ISA is subject to Junior ISA annual limits. This means you can deposit a maximum of £9,000 in the current tax year.
Our Young Savers account allows you to save up to a balance of £25,000 with no annual restrictions.
Our Junior Cash ISA has to be managed by an adult, whereas our Young Savers Account has the option to be managed by the child once they turn 14.
Both accounts can be managed at your convenience through the following methods:
- In Branch
- By Post
- Via our 'My Accounts' online banking service - this is only if the person managing the account is over 16 (for Young Saver).
- You can open a Junior Cash ISA as a parent or guardian if you are 18 or over, for a child who is aged below 18.
The rates on both products are variable, so they can go up or down.
The above information is a brief overview of some of the most asked about features of our account.
To carry out a full comparison you should read the Key Product Information and Terms and Conditions of each account.
This information is available on the web pages for each account.
A Junior Cash ISA is a long-term savings account for children under 18. You can pay in up to £9,000 each tax year*, and the money is locked away until the child’s 18th birthday. At that point, it automatically becomes an adult Cash ISA in their name.
*subject to change
Our Young Saver Account is designed for everyday savings. Withdrawals can be made at any time, and once the child turns 14, they can start managing the account themselves if they wish.
With the Junior Cash ISA, money cannot be withdrawn until the child turns 18. With the Young Saver Account, funds are accessible at any time, giving flexibility for things like school costs, hobbies, or milestone purchases.
- Junior Cash ISA: Up to £9,000 per tax year, set by the government.
- Young Saver Account: Up to £25,000 with MonBS, with no annual deposit limit
The Junior Cash ISA must be managed by an adult. The Young Saver Account can be managed by a parent or guardian, but once the child turns 14, they have the option to take control of it themselves.
Both the Junior Cash ISA and the Young Saver Account offer variable interest rates. This means the rate can go up or down over time. MonBS will keep you informed of any changes.
Interest earned in a Junior Cash ISA is tax-free. The Young Saver Account pays interest gross, but most children won’t pay tax because their total income is below the annual tax-free allowance.
You can find out more about paying tax on interest from Junior Cash ISA savings on the government website: Junior Individual Savings Accounts (ISA): Overview - GOV.UK
You can apply in branch, by post, or (for some accounts) via MonBS’s online banking service. Management options depend on the child’s age and the account type.
Yes. Both the Junior Cash ISA and Young Saver Account are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per eligible person, this gives our building society savers peace of mind that their money is protected.
Looking for the rate on a closed savings account?
Simply click on the links below to view:
View our other savings products
