| Junior ISA | |
|---|---|
| Interest rate gross/tax-free p.a./AER* | 4.25% |
| Type of account | |
| Withdrawals | No access until the child is 18 |
| Open with | £1 |
| Open and manage |
|
| More details | |
| Young Savers' Club | |
|---|---|
| Interest rate gross/tax-free p.a./AER* | 3.35% |
| Type of account | |
| Withdrawals | Unlimited |
| Open with | £1 |
| Open and manage |
|
| More details | |
| Account Name | Interest rate gross/tax-free p.a./AER* |
Type of account | Withdrawals | Open with | Open and manage | |
|---|---|---|---|---|---|---|
| Junior ISA |
4.25% |
|
No access until the child is 18 | £1 |
|
More details |
| Young Savers' Club |
3.35% |
|
Unlimited | £1 |
|
More details |
Here’s a few things to think about before picking your little (or not so!) one’s savings account. Whether they’re a newborn, toddler or beyond – you can open an account for your child up to age 16. When they hit 17, any accounts they have will move over to adult accounts.
You can choose how much money you’d like to put into the account - even if it’s just £1!
It’s totally up to you. Choose how much you can access your child’s savings with different types of account. For example, Young Savers’ Club allows easy access to cash, but our Junior ISA doesn’t allow withdrawals before your child is 18 years old.
Yes, you can open a Young Savers’ Club account as a grandparent. But, they’ll only be able to open a Junior ISA if they’re the child’s guardian or if they have parental responsibility for the child.
Yes, if you open a children’s savings account with us, it will be in your child’s name. If you’d like to open the account in your name, you can jointly be named on Young Savers’ Club.
With Young Savers’ Club, a parent or guardian needs to be with your child to withdraw money if they’re:
Remember, withdrawals can’t be made from Junior ISAs until your child is 18 years old. Once they reach their 18th birthday, the parent or guardian's name will be removed from the account.
Your savings are covered by the Financial Services Compensation Scheme (FSCS), so your savings are protected. The scheme was set up by the Government and is funded by the industry. Savers are protected up to £85,000 if their bank or building society goes out of business.
Find out moreAs a mutual building society, you own us, not shareholders. That means we pass our profits and extra benefits directly to you instead of paying dividends.
To open this savings accounts call your local branch to speak to an adviser to book an appointment. You cannot open or manage this account online.
Scratching your head about savings? Take a look at questions that our members frequently ask us, which you might also find helpful.
