Children's Savings Accounts
Give your little ones the best start in life.
Whether you’re putting money away for their first car, university, or just for a rainy day - our children’s savings accounts help you look after their future.
| Interest Rate | Withdrawals | Deposits | Managing the Account | |
| Junior Cash ISA | 4.35% AER/Tax-free |
No, not until the child turns 18 | Subject to Junior ISA annual limits | Managed by an adult |
| Young Saver Account | 4.30% 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 ca 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.
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.
Savings Terms Explained
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.
Gross is the rate of interest payable before any tax is taken off.
Fixed interest means the rate stays the same until the account matures.
Variable interest means the rate can go up or down at any time. We will always publish our rate changes and give you with at least 30 days notice if the rate on one of your accounts is due to go down.
Tax-free means you will not pay any tax on your interest.
Tax year runs from 6 April to 5 April.
Business day is Monday to Friday excluding bank holidays.
Looking for the rate on a closed savings account?
Simply click on the links below to view:
View our other savings products
