Children's Savings | The Savings Guru

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Children's Savings

Provider	Rate	Min/Max Deposit	Opening Account	Accessing Account	Interest Options	SG Verdict
Bath Building Society	4.25%	£1 / £5,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid 31st December	This account is available for children aged up to 18 years old. An adult must operate the account for children under the age of 7 and at 18 the account will automatically transfer in to a standard instant access account. Bath is one of the smallest building societies in the UK, looking after £225m of deposits.
Buckinghamshire Building Society	3.10%	£100 / £50,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Annually Paid 31st December Paid Compounded	This account is available to anyone up to age 16. The account can be operated by the child alone if over 7 but under 7 must be operated by an adult. 100 day’s notice is required for access although immediate access can be granted with 100 days penalty interest
Chorley Building Society	2.35%	£1 / £25,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid 31st December Added to the account	This account is available for children aged up to 16 years old. Children under 7 must have their account operated for them by an adult. Chorley was founded in 1859 and is one of the smallest building societies in the UK, looking after £235m of savings
Halifax	5.50%	£10 / £100 per month	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid on Anniversary Paid Annually Paid Away	This has consistently been the best rate on a Children’s account since 2017. Halifax is part of Lloyds Banking Group, the largest savings provider in the UK
Halifax	2.70%	£1 / £5,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid on Anniversary Paid Annually Paid Away	Halifax is part of Lloyds Banking Group, the largest savings provider in the UK
Instant	5.00%	£10 / no maximum	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid Monthly	Very competitive rate for children. Does require a branch visit to set up but after that, a debit card is provided as well as the ability to manage online, in branch and via HSBC’s mobile app.
Kent Reliance	4.20%	£10 / £25,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Monthly Paid Annually Monthly interest paid on the last working day of the month Annual interest paid on 5th April	Kent Reliance are part of One Savings Group and operate 9 branches in Kent and the South East
Melton	3.30% (30 Day Notice)	£5 / £5,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Monthly Paid Compounded	This account is only for UK resident individuals aged between birth and 16 years of age living in Leicestershire, Nottinghamshire, Lincolnshire or Rutland or to customers who have been members with the Society for 5 years or more.
12 Month Bond	5.05%	£5 / £100 per month	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid On Maturity	Excellent rate from Essex based Saffron. Children can be up to 15 years old but an adult signatory is required for children under 13.

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