There are a number of factors to consider before deciding which savings account to choose for your child.
You’ll need to decide how much money you want to put into the account. You can open all our children’s savings accounts with just £1.
You’ll also need to decide how much access you want to the savings account. Our Young Savers’ Club account offers instant access to your savings, withdrawals are not allowed before the child is 18 years old with our Junior ISA.
Yes, however you'll only be able to open a Junior ISA if you are the child's guardian or if you have parental responsibility of the child.
Yes, any children’s savings accounts opened with us will be in the name of the child. If you do want to open the account in your name, you can be jointly named on the Young Savers Club.
With the Young Savers’ Club, a parent or guardian will have to accompany the child to withdraw money if they’re under 7 years old or if they’re aged 7-10 and want to take out more than £5 or aged 11-16 and want to take out £250 or more.
Please note no withdrawals can be made from The Nottingham’s Junior ISA until the child is 18 years old. Once the young person reaches their 18th birthday, the adult's name will be removed from the account.
To open one of our savings accounts call your local branch to speak to an adviser. They'll talk you through the process of opening a branch based account.
A children's ISA or Junior ISA gives you access to long-term, tax-free savings for your children. Find out more and take full advantage of your child's Junior ISA allowance now.
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