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
Stay in the know with all the latest information, of-the-moment consumer trends, best-in-class products & providers and helpful tools from Moneyfacts.
Expectations are at a record low for potential first-time buyers, with research suggesting that 8.5 ... More
Last Friday marked the 100-day countdown to Christmas, which means now’s the time to start planning!... More
At a time when savings rates are reaching record lows, there are clearly far fewer ways of earning a... More
It hasn’t been a good year for savings rates, and unfortunately, there’s no sign of things changing ... More
The UK’s inflation rate remained unchanged at 0.6% in August, but while this is undoubtedly welcome ... 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
Julian Hodge Bank has decreased the rate on its two-year fixed savings account, but despite this, it... More
Secure Trust Bank has launched a new variable rate 120-day notice savings account, which has managed... More
Vanquis Bank has increased its one, two and five-year fixed rate savings bonds by up to 0.14%, which... More
Charter Savings Bank has launched new one-year and 18-month fixed rate savings bonds with highly com... More
Ikano Bank has amended rates across its range of fixed savings bonds. Nonetheless, the two, three an... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.