Children's Savings

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
Halifax
4.50% £10/£100 per month

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Annually
  • Paid Away

The best rate on a Children’s account for 2017 from Halifax, part of Lloyds Banking Group.    

Harpenden Building Society
2.21% £1 / no maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded

This account cannot be access until the child is 18 so will only appeal to those who don’t need access.  The rate is variable so could reduce.    

HSBC
2.75% £10 / no maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly

Very competitive rate for children. Does require a branch visit to set up but after that, a debit card is provided as well as the ability to manage online, in branch and via HSBC’s mobile app.    

Nationwide
2.50% £1 / £50,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Annually

The online application may make this attractive for some savers but the ability to make only one withdrawal or see the rate drop to 0.25% will deter those who might want access.    

Saffron Building Society
4.00% £5 / £100 per month

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

Excellent rate from Essex based Saffron. Available up to 15 years old but must be opened in trust for under 7s.