Which Children's Saving Account providers do we work with?
We compare a wide range of Children's Saving Account providers in the UK, including:
The rates offered for some children’s savings accounts and junior bonds can sometimes be the highest available for UK savings accounts. This is because the banks assume that the money will be tied up, not regularly accessed and the child will keep the account for a decade or as a lifetime customer.
Compare the best children’s savings account with Proper Finance and earn up to 3.5% from the UK’s leading building societies and banks.
We offer a wide range of options including:
Depending on your circumstances, some kinds of children’s savings accounts may be better suited to you and your family than others. You need to weigh up the different options for you and your child including how much you can invest and how long for. In order to narrow down your choices, it is worthwhile taking the time to consider the following:
There is a wide range of children’s accounts that are available from banks and building societies. These include:
A junior ISA is like a normal cash ISA but has a maximum allowance of £4,080 per year. There are two kinds of ISAs available.
We aim to be as approachable as possible for our customers, and will always do our very best to assist you with any and all queries you may have concerning any part of our application process and more.
Our online application only takes minutes to complete, with decisions being made very quickly after this. A member of staff will contact you to help you proceed with the final steps.
Each and every one of the providers we work with are fully checked to ensure their reputability, their trustworthiness, and furthermore their competency in helping to provide you with the financial services you require.
The Proper Finance comparison site is free to use and there are no upfront fees for filling in our online application.
If you are a guardian or parent of a child, it is possible for you to open a children’s savings account from the day they are born. With certain providers, it is also possible for a friend or family member to open a children’s savings account, however, this tends to be less common.
Yes, and you will manage it for them until they have reached a certain age.
It is possible for named account holders to withdraw money from the account, with the exception of the Junior ISA.
It is only possible for you to have one junior stocks and shares ISA and one junior cash ISA that can be paid into per tax year. The same applies for adults.
Yes with the majority of children’s savings accounts it is possible for you to do so. However, certain accounts, such as the Junior ISA, will specify that only the legal guardian or parent of the child can open this account.
Yes, and this personal savings allowance is up to £1,000 in interest that can be earned tax free per year.
In most cases, your child will take responsibility for the savings account once they have reached 18 years old.
It is possible for each child to earn a maximum of £1,000 in savings interest yearly, prior to having to pay tax. In terms of money given by a parent, the maximum is £100 in interest.
We work with trusted brokers to give you access to a panel of leading lenders well placed to meet your needs at the lowest rates.
