Young Savers

Teaching your children the importance of saving is a valuable
life lesson and it’s never too early to start.

 

Whether it's a place to put their pocket money or building funds for their future, we have a variety of tax-free and variable interest rate accounts that are suitable for both younger kids and teenagers.

 

 

 

 

Here you can sort our accounts listed by either the highest interest rates or the lowest deposit requirements.

Pocket Money Saver

Available

Branch Post
Interest Rate2.25%Gross/AER
Start saving from £1

Available

Branch Post

Junior ISA

Available

Branch Post
Interest Rate1.60%Tax Free/AER
Start saving from £1

Available

Branch Post

Young Savers Account

Available

Branch Post
Interest Rate0.75%Gross/AER
Start saving from £1

Available

Branch Post

Can't find what you're looking for? Talk to our Savings Team

Are you a young adult in full time education? Our student savings account may be what you're looking for

£85,000 guaranteed

Under the FSCS guarantee, your savings are protected.

Still not sure?

Who are our children’s savings accounts for?

These young savers accounts are ideal for parents who would like to put savings away for their child, or even teens looking to open a savings account of their own. Our accounts are suitable for young people up to age 18.

Which is the best savings account for my child?

All our Young Savers accounts are ideal for children and teens, up to age 18. Finding the best fit for your child depends on your savings plan and whether you’ll need easy access to the account. For example, if you’re looking to open a kid’s savings account where the savings can’t be accessed until the child turns 18, then a Junior ISA could be the one.

However, if you’d like a child saver account that your little one can help manage, and be rewarded for their savings habits, then a Pocket Money Saver could be a great fit.

Finally, our Young Savers account is an excellent teen savings account, as it allows easy access to the savings whilst also earning interest on any money saved.

You can compare all our savings accounts for young people above, or alternatively use our savings account finder to find the most suitable account for you.

Can I open a savings account for a baby?

Yes! You can open a savings account for a baby, or toddler, and keep putting money into the account until the child reaches 18.

Can I open a savings account for my grandchild?

Yes a grandparent can open a savings account for their grandchild in the child’s name. They will need to provide documentation for the child, such as a birth certificate.

Are children’s savings accounts tax-free?

Just like adults, children are liable to pay tax on their savings. However, as they aren’t working, they’re unlikely to go over the threshold, therefore, making them exempt from tax.

Please ensure that you’ve read all of the information before opening an account, or speak to a member of our team on 0800 834 312 if you’re unsure. Alternatively, our Savings Account Finder can help you find the right option for your child.

If you’re specifically looking for a tax-free children’s account, then consider opening a Junior ISA.

Tools and guides

Top tips for savings

Our 6 top tips for choosing a savings account

Savings FAQs

The answers to all your savings questions.

Search for articles, guides and help

Branch finder

Visit one of our branches in the North West

Contact us

Or see all the ways you can contact us, online or by post