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.
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
Cultivating the saving mentality can be tough, but it is an even harder task if disposable incomes a... More
If you’re looking for the best returns on your hard-earned cash, but don’t want to lock your money a... More
The latest official inflation figures, released this morning, show that the Consumer Prices Index (C... More
If you were lucky enough to get an unexpected cash windfall, would you save it or spend it? Well, if... More
Fixed rate bonds are the best, and often only, way to secure a decent return from your money. Thanks... 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
Savings accounts for the over 50s can offer a better rate, but not always. Make sure you always comp... More
Secure Trust Bank has just unveiled four new fixed term bonds, all of which have won a place on the ... More
Tesco Bank has recently reviewed its fixed savings range, and despite a small reduction, the five-ye... More
A saving review from Raphaels Bank has led to a slight reduction in rates, but the six-month notice ... More
United Trust Bank has reviewed its savings portfolio and, despite slight reduction in rate, the two-... More
West Brom Building Society has unveiled a brand new no notice saving account, which has stormed stra... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.