Children's Savings Accounts
Savings accounts designed for children to manage their own savings and for parents, friends and family to save for a child's future.
Our full Children's savings accounts range
Smart Junior ISA
Our Smart Junior ISA is a tax-efficient way for an adult to save and invest on behalf of a child and is available to UK resident children under 16 who have never been issued with a Child Trust Fund voucher. Includes a fixed introductory bonus rate until 31 October 2013 which reverts to a lower rate once the bonus has expired. Open with £1+. Minimum age 0.
Rates effective from 01/11/2011
| Balance Min | Max | Withdrawals per year | Notice period/loss of interest for additional withdrawals | AER% | AER% including bonus | Gross p.a.% | Net p.a.% |
|---|---|---|---|---|---|---|---|
| £1+ | None* | N/A | 2.10 | 3.00 | 3.00 | n/a | |
Notes
Rates are variable. This is a cash Junior ISA.
90 Day Smart Saver
A branch based, 90 day notice account that may be opened by an adult on behalf of a child under the age of 18 years, includes the reassurance of a Rate Promise. Open with £100+.
Rates effective from 24/10/2011
| Balance Min | Max | Withdrawals per year | Notice period/loss of interest for additional withdrawals | AER% | AER% including bonus | Gross p.a.% | Net p.a.% |
|---|---|---|---|---|---|---|---|
| £1+ | Unlimited | 90 days* | 2.10 | n/a | 2.10 | 1.68 | |
Notes
Rates are variable. Annual interest rate (AER) is guaranteed to track changes in the Bank of England Base Rate until 1 January 2015. Any rate changes will take place within a month of any Bank of England announcement.
1 year Smart Fixed Rate Bond
A branch based account that allows you to save a lump sum and earn a fixed rate of interest on your savings. May be opened by an adult on behalf of a child under the age of 18 or by anyone aged 7 years or over.
Rates effective from 18/11/2011
| Balance Min | Max | Withdrawals per year | Notice period/loss of interest for additional withdrawals | AER% | AER% including bonus | Gross p.a.% | Net p.a.% |
|---|---|---|---|---|---|---|---|
| Annual interest | £1 | £9,999 | None | N/A | 2.85 | n/a | 2.85 | 2.28 |
| £10,000 | £24,999 | None | N/A | 2.90 | n/a | 2.90 | 2.32 |
| £25,000 | £49,999 | None | N/A | 3.00 | n/a | 3.00 | 2.40 |
| £50,000 | £2,000,000 | None | N/A | 3.10 | n/a | 3.10 | 2.48 |
| Monthly interest | £1 | £9,999 | None | N/A | 2.84 | n/a | 2.80 | 2.24 |
| £10,000 | £24,999 | None | N/A | 2.89 | n/a | 2.85 | 2.28 |
| £25,000 | £49,999 | None | N/A | 2.99 | n/a | 2.95 | 2.36 |
| £50,000 | £2,000,000 | None | N/A | 3.09 | n/a | 3.05 | 2.44 |
Notes
Rates are fixed.
Smart
Instant access savings account for 0-17 year olds. If you are 11 or over you can choose to have a cash card and manage your savings online. Minimum age 0.
Rates effective from 01/04/2009
| Balance Min | Max | Free withdrawals per year | Notice period/loss of interest for additional withdrawals | AER% | AER% including bonus | Gross p.a.% | Net p.a.% |
|---|---|---|---|---|---|---|---|
| £1+ | Unlimited | N/A | 0.75 | n/a | 0.75 | 0.60 | |
Notes
Rates are variable.
Cash Child Trust Fund
Cash savings fund open to children born between 1 September 2002 and 31 December 2010, to help you save for your child’s future. No minimum age.
Rates effective from 01/04/2009
| Balance Min | Max | Withdrawals per year | Notice period/loss of interest for additional withdrawals | AER% | AER% including bonus | Gross p.a.% | Net p.a.% |
|---|---|---|---|---|---|---|---|
| £1+ | None | N/A | 1.10 | 2.10 | 2.10 | n/a | |
Notes
Rates are variable. Cash Child Trust Fund pays a conditional bonus of 1.00% gross p.a. which will only be paid if £240 or more is paid into the account each year. This does not include Government contributions. The bonus is variable. Funds can only be accessed on your child’s 18th birthday.
Fixed Term
Many of our Fixed Term Bonds can be opened in trust for a child, making them a great way to save for a child's future.
Limited Access
Limited access accounts could give you a higher rate of interest if you don't need immediate or unlimited access to your savings.
Instant access
Accounts with unlimited instant access, giving you the highest level of flexibility. You can deposit or withdraw your money whenever you need to.
Interest rate definitions:
| AER | AER Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. |
|---|---|
| Gross | The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax). |
| Net | The net rate of interest is the interest payable after any income tax is deducted (if you do pay tax). |
The tax information provided is based on our current understanding of current law and HM Revenue & Customs practice which can change.