With the rising costs of living and children's education, it is important to start savings as soon as possible for your child. With over 167 child savings accounts around at the moment it is important to look around and make sure you are getting the most back from your child's savings. Click here to compare over 167 children's savings accounts.

Easy Access
Notice
Bonds or Term

Most children's savings accounts are easy access allowing money to be withdrawn without notice or penalty. Some accounts require notice to be given before a withdrawal, to allow a penalty-free withdrawal.

Children's Savings Accounts normally offer a higher level of interest than easy access accounts. Bond accounts offer the highest interest but to receive this, the money invested normally has to be left in the account for a specific period. This could vary from 1 year, up to 5 years or some providers require money to be left until the child has reached a certain age.

There is no minimum age for a Children's Savings Accounts to be opened, however most Providers require a Parent or Guardian to open and run the account until the child is between 7 - 11 years old.

Most Children's Savings Accounts run until the child is 18 years old when, if not specified at the time, will be transferred over into an adult savings account.
To encourage a child to save their money most Providers offer incentives when an account is opened. This can range from posters to vouchers to naming the account themselves.

The idea behind Children's Savings Accounts is to start to encourage children to take an interest in saving money. However, the gift is not the most important part of an account so look beyond it and find out what interest rate is offered on the account.

Compare over 4000 savings accounts, including tax-free and off-shore accounts.