Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.
Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £75,000 per person per institution.
Children’s savings can take the form of a mixture of short and long term goals. On the one hand, a grandparent might be looking to put money aside to help a child achieve a goal far in the future such as raising the deposit on a house, or buying a car. On the other hand, the child themselves may wish to deposit surplus birthday money in a children’s savings account until they see something that they wish to buy.
To meet these differing needs, children’s savings accounts are available in the same varieties as adult savings accounts, including ISAs (or Child Trust Funds if your child was born between 1.9.02 and 2.1.11).
Some accounts will allow you to open an account for your child from birth; others may have an older minimum age requirement. Similarly, not all children’s savings accounts will run until your child is 16 or 18 – some end when a child turns 11, or 13 for instance.
In reality most children don’t pay tax on interest they earn from their savings. However, if a child earns more than £100 in interest on money given to them by a parent or step-parent, there will be tax to pay (unless that money is in a Child Trust Fund or Junior ISA). Read more about tax and children’s savings.
Savings home Search all children's savings accounts Compare junior ISAs
Guide to children’s savings accounts Savings guides
Stay in the know with all the latest information, of-the-moment consumer trends, best-in-class products & providers and helpful tools from Moneyfacts.
Have you been saving more in the last few months? If so, well done! It seems to be a recurring theme... More
Saving regularly can be a difficult habit for people to get into, but it seems that there’s a clear ... More
If you’re looking to secure the best rate on your savings, you generally have one of two options...... More
Loyalty savings products are often marketed as exclusive deals that are only available to a select f... More
Saving is something that we all need to get in the habit of, but the question is, what are you savin... More
Islamic savings accounts offer a Sharia’a-compliant way of saving for Muslims living in the UK, as w... More
Find out where your bank or building society is licenced, and what deposit protection guarantees you... More
With some forecasters predicting interest rate cuts by November 2012, we look at the pros and cons o... More
Ikano Bank has reduced the rates paid on its fixed bonds by 0.05%. However, its one, two and three-y... More
Paragon Bank has reduced the rates paid on its two and three-year fixed bonds, but thanks to their o... More
Al Rayan Bank has reduced the rates paid on selected fixed bonds by up to 0.25%, but despite this, i... More
Yorkshire Building Society has decreased the rate paid on its easy access savings account; however, ... More
Close Brothers Savings has unleashed competitive one and two-year fixed bonds onto the market, and t... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.