Print or email this page:

Why choose Smart?

This simple-to-use account lets children manage their own savings. Adults can also use it to save for a child's future.

  • Interest rate: 0.75% AER/gross p.a. (variable) 
  • Manage your money: online and in branch
  • Instant access: make withdrawals at any time

Account details

Explore the key features and benefits of this account in our Summary Box before moving on to start your application.

Summary Box

Account name


What is the interest rate?

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

Interest is calculated daily and paid into your Smart account twice a year on 30 June and 31 December and on the date the account is closed.

Can Nationwide change the interest rate?

Yes, the interest rate is variable.

Please see the “Variation of your interest rate and other account terms and conditions” and “How will we tell you about interest rate changes?” sections of the Savings General Terms and Conditions which set out when we can vary the interest rate and how and when we will notify you if this happens.

What would the estimated balance be after 12 months based on a £1,000 deposit?

The balance on an initial deposit of £1,000 with an interest rate of 0.75% AER/gross p.a. (variable) after 12 months would be £1,007.51.

This estimated balance is for illustration only and assumes that:

  • the account is open on 1 January
  • no further deposits or withdrawals are made
  • there is no change to the interest rate.

How do I open and manage my account?

To open this account:

  • a child must be aged between 7 and 17 years old to apply for the account themselves
  • an adult can open and manage an account on behalf of a child aged between 0 and 15 years old.
  • the adult and child will need to be UK residents
  • you can open this account with a minimum of £1 up to a maximum of £5,000,000.

You can open this account:

  • In branch if you are a child applying for yourself;
  • Online* via the 'Start application' button below this Summary Box or in branch if you are an adult applying for an account and both you and the child are existing members; or
  • In branch if you are an adult applying for an account, and either you or the account beneficiary or both of you are new to Nationwide.

*To apply online, you must already hold a Nationwide current account, savings account, mortgage or credit card. Your child must hold a Nationwide savings account or FlexOne current account.

You can manage your account:

It’s easy to move your savings between your existing Nationwide savings accounts or to open a new savings account with us. Simply go to, use the Internet Bank or our Banking app or visit one of our branches.

Can I withdraw money?

Yes, this is an instant access savings account so you can get access to your money whenever you need it.

Subject to your account balance, you can:

  • withdraw up to £500 in cash a day or up to £500,000 by cheque at any of our branches
  • transfer money to another Nationwide current account or savings account (as long as it is possible to make payments into the account), using the Internet Bank, or our Banking app or via Telephone Banking (if you’re registered for these services)
  • make transfers by CHAPS (please note, this service is only available in branch and there is a fee payable).

Additional information

If the account is opened by an adult, the adult will be acting on behalf of the child (as a ‘bare trustee’). Although the account is in the name of the adult, the money in the account is held for and belongs to the child.

Interest is paid on each whole pound in the account.

A passbook will only be issued for accounts opened in branch.

When the child reaches the age of 18 years and 6 months this account will be closed and moved into an instant access savings account.

Interest rate definitions explained:

  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
  • Gross p.a. is the interest rate without tax deducted.

You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please visit HM Revenue & Customs' (HMRC) website

The tax information provided is based on our understanding of current law and HMRC's practice, both of which may change.

The interest rate and information in this summary box are effective from 25 May 2018.

This Summary Box sets out the key features of the savings account. For full details, please read the account terms and conditions.

Before you apply, please make sure you read the Summary Box and Terms and Conditions in full and print or save a copy for reference.

Other important information

Piggy bank hiding under a mat

Help with your savings

Our support pages have information on how to manage your account and view interest rates.

Savings and cash ISA support