Young Savers Accounts

Young savers accounts (typically for ages 0-18) are specialised, often high-interest, easy-access or fixed-term accounts designed to teach money management.

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Key Features

Young savers accounts (typically for ages 0-18) are specialised, often high-interest, easy-access or fixed-term accounts designed to teach money management.

They generally feature low opening deposits and no monthly fee – an easy access account where the child can take out money whenever they like.

Easy access savings – often for younger children (0-18), allowing instant, penalty-free withdrawals
Often require a minimum monthly deposit, encouraging regular savings habits
Accounts can be opened and managed by a parent/guardian (controller) until the child turns 18, at which point the child takes over
Usually provide variable interest rates, though some provide high fixed rates for a set period
Often require a birth certificate or passport for the child, and proof of address for the parent/guardian

Available to new customers/ existing customers?

New and Existing Customers Existing Customers Only

Term (Description)

0-1 Years 2-3 Years 3+ Years No Restrictions

Starting Balance (How much you’ll open with):

£0 £100,000+

Monthly Savings (How much you’ll put in a month):

£0 £100,000+

The estimated interest is for illustrative purposes only and is intended to help you compare accounts. It doesn’t take account of individual circumstances. All interest rate information should be read in conjunction with the full product information and the general terms and conditions for savings accounts. The figures below are based on your initial deposit entered and monthly deposits entered over a 12‑month period, using current interest rates. This projection assumes that the initial deposit is made when the account is opened, that each monthly deposit is made on the first day of each calendar month, that no further money is paid in or withdrawn, and that the funds are held for the full interest period with no change to the interest rate. For products with tiered interest rates, the calculation shown is based solely on the highest interest rate available within the product. Please refer to the individual product terms and conditions for full details, including how tiered interest rates and withdrawals apply.

Young Savers Accounts

Young Savers Instant Access (Issue 1)

Interest Rate

2.75%

PA / AER | Variable

Minimum Deposit

£1

Please note that you must fund the account with the minimum balance of £1 within 30 days of account opening, otherwise your application may be cancelled.

Suitable For

You’re a child, young person or opening an account for a person aged 0–18

Account Opening

Branch

Post

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* The gross rate (PA) is the rate before deducting tax at the rate applicable to savings income. The annual equivalent rate (AER) is a notional rate which illustrates what the gross interest rate would be if the interest was paid and added to the account annually.

The information contained in this table forms part of the terms and conditions of the account and should be read in conjunction with our General Savings Account Terms and Conditions for Retail Savings Accounts.

Some help & guidance

Savings FAQs

Find clear answers to our most frequently asked questions, designed to help you make your savings journey as simple as possible.

Find Out More

Jargon Buster

Financial jargon can be confusing sometimes. Our jargon buster breaks down some of the common savings terms and abbreviations.

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Forms and documents Business Savings Accounts

Forms & Documents

Here you will find some useful savings forms and further information documents to help you manage your savings accounts.

Find Out More

It was much easier than I anticipated to open the Trust account and then register to manage this online. The application and accompanying documents were submitted via email and registration was managed online. There are a limited a number of banks and societies offering these products and services and Harpenden Building Society made it a stress-free process.

August 2026

Great local banking branch! Great to have a local branch to go into and speak to a human. Good product and lovely people.

Steve

March 2026

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Young Savers Accounts

Key Features