Features and benefits

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Smart children's savings account

Part of our range of accounts designed for children to manage their own savings and for parents, friends and family to save for a child's future.

Here's what you get with a Smart account ...

0.75% gross p.a./AER (variable)

Smart pays the same interest rate on every pound in your account, however much you have in it, making saving simpler

For children up to 18 years old

1 account holder if opened by a child aged 7 or over, or 2 account holders if opened by an adult on behalf of a child under 16

Flexible saving and unlimited instant access

You can save as much or as little as you want, whenever you want, and you can withdraw your money as often as you like

Easy to open

A Smart account can be opened online* or in branch with as little as £1. A child aged between 7 and 18 can open the account in their sole name, or a parent or guardian can open an account if the child is under 16.

*Online applications - Children applying for themselves must hold an existing Nationwide savings account. Adults applying on behalf of a child must hold a Nationwide current account, savings account, mortgage or credit card and the child they are applying for must hold a Nationwide savings account.

We're here to help you to save

  • Why not visit the Nationwide Education website, it's designed to help children and young people to understand more about how to manage their finances through fun, interactive games that contain serious messages and link into the curriculum
  • Our Savings Promises ensure we treat you fairly and help you make the most of your savings
  • Through our SavingsWatch service, we'll tell you by email or SMS if we change your savings interest rate up or down and if we launch a new savings account we'll let you know about that too, by email. Find out how to register
  • Keep track of your savings balance with our free mobile banking app

Ready to apply for a Smart account?

FSCS logo

Financial Services Compensation Scheme

Protecting your money

Find out more - Financial Services Compensation Scheme

You may also be interested in...

Smart Junior ISA

Designed to help you give your children a helping hand when they reach 18 by building up tax-free savings they can then use for whatever they are dreaming of.

Smart Limited Access

A limited access account for adults looking to save for a child's future or for a child to save for themselves. Its ideal for those who don't need regular access but with the reassurance of access should you need it.

Nationwide Education

The Nationwide Education website helps young people to understand more about how to manage their finances and achieve their dreams and aspirations.

Jargon explained

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
AER includes conditional bonus (if applicable)
The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
The net rate of interest is the interest payable after any income tax is deducted (if you do pay tax).
Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.

Rates and information

Managing your account