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. The maximum level of protection will be reducing from £85,000 to £75,000 from 1 January 2016.
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.
You carefully squirrel away a few pounds a month in the hope that you’ll build up a healthy savings ... More
Following last week’s revelation that savings rates were edging up, our latest research shows that t... More
Fixed rate bonds can be one of the best ways to secure a decent return from your money, but if you r... More
Savers, we’ve got two pieces of good news for you today – not only has inflation fallen back to zero... More
If you’re looking to secure the best rate on your savings, you generally have one of two options...... 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
Close Brothers Savings has increased the rates paid on selected fixed bonds by up to 0.10%, catapult... More
FirstSave has increased the rates paid on its one-year bond by 0.06%, earning an ‘excellent’ rating ... More
Tesco Bank has slightly reduced the rate paid on its easy access savings account, but despite this, ... More
Kent Reliance has made a slight reduction to the rate paid on its easy access savings deal, but desp... More
Secure Trust Bank has relaunched its competitive five and seven-year fixed rate bonds, both of which... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.