Kids' Saver

Put away for a little one's future in a Kids' Saver account.

Who this account is for

  • This account is for an adult who wants to put money away for a child aged 15 or under.
  • You must be 18 or over and a UK resident to open the account.
  • If you aren’t a parent or legal guardian of the child you need their permission to open this account.

The benefits

  • Earn 3.40% AER / 3.35% gross variable on balances from £1 - £5,000.
  • Earn 1.45% AER / 1.44% gross variable on any excess above £5,000.
  • You can open up to two Kids' Saver accounts per child.

How it works

  • You can make as many withdrawals as you like from this account.
  • Open with just £1.
  • We’ll contact the child at the age of 16 to tell them we hold their personal information. We’ll contact you before this happens.
  • Before the child’s 16th birthday we’ll write to you to tell you that the account will change to an Everyday Saver account. See Everyday Saver interest rates (PDF, 504KB).

Summary box for the Kids' Saver

  • 3.40% AER/3.35% gross variable on balances from £1 - £5,000.

    1.45% AER/1.44% gross variable on any excess above £5,000.

    Interest is paid monthly.

  • Yes. As this account pays a variable rate of interest it can change over time. We’ll always let you know of any planned changes to the rate. Our account conditions (PDF, 210KB) explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.

  • For example, if you deposit £1000.00 when you open the account, the balance after 12 months will be £1034.01.

    If you deposit £6000.00 when you open the account, the balance after 12 months will be £6183.10.

    This assumes:

    • You don’t withdraw any money and interest isn’t paid out of the account.
    • The interest rate stays the same.
    • You make your initial deposit payment on the day you open the account.
    • You don't make any further deposits.

    If you have more than £5,000 in your account, you’ll get two different interest rates on your balance: the higher rate applies to everything up to £5,000 and the lower rate to everything over £5,000.

  • This account can be opened:

    • online
    • in branch.

    You can manage the account online, on our app, in branch and by phone. To apply in branch, you’ll need proof of your own identification as well as the child’s (such as a passport or full birth certificate). Find your nearest branch.

    Bear in mind:

    • To open and manage an account in trust for a child you must be 18 or over and a resident in the UK. The child must be 15 or under.
    • If you aren’t a parent or legal guardian of the child you need the permission of a parent or legal guardian to open this account.
    • Once the account is open we’ll send a letter to the child’s address informing the parent or legal guardian of this. If a parent or legal guardian of the child tells us they don’t want this account open, we’ll close it and return the money saved.
    • The minimum opening deposit is £1.
    • Two Kids’ Saver accounts can be held for any one child.
  • Yes. You can make as many withdrawals as you like from this account.

    Before the child’s 16th birthday we’ll write to you to tell you that the account will change to an Everyday Saver. You will hold this account in trust for the child.

    If you want the money to go into another account for the child we’ll let you know how to do this.

  • We’ll contact the child at age of 16 to tell them we hold their personal information. We’ll contact you before this happens.

    Gross rate means we won’t deduct tax from the interest we pay on money in your account. You will need to pay any tax you may owe to HM Revenue & Customs (HMRC).

    AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.

    For more definitions, view our savings glossary.

Some useful information to help you open a Kids' Saver
 

  • In order to open a Kids’ Saver you’ll need to provide a valid ID document for the child. In most cases you’ll only need to provide one of the followings: 

    • UK or EU passport. 
    • Full Birth Certificate. The full birth certificate will contain both the child’s and parent’s details. The short version of the birth certificate can’t be used to open the account. 

    Bear in mind: 

    • The ID documents need to be valid. 
    • We might require additional documents to complete further ID and address verification. 
    • The documents must show the same name you used during the application. 
    • Make sure the ID documents you provide are not expired and the details are clear. 
    • If you provide a birth certificate to open the account it must show both the child’s and the parent’s details. 
    • If you are using a Welsh birth certificate for identification, you must upload both sides of the certificate as one document. If you can’t do this, please visit a branch to complete the child’s account opening journey.
    • The child you open the account for must be aged 15 or under and doesn't already hold two Kids' Saver accounts. 
    • If you apply online you can upload the documents using a scanner, smart phone, tablet or computer with a camera. We’ll not be able to accept screenshots of the documents. 

Open a Kids' Saver

Please read the summary box and the account conditions (PDF, 210KB) before you start.

Open now

Other ways to apply.

You can apply at your nearest branch.

Please note: To apply in branch, you’ll need proof of your own identification as well as the child’s (such as a passport or full birth certificate). 

Looking for a debit card for kids?

Good money habits for your child start here with Money Smart. Easily pay pocket money into your child’s account to help them get money confident.

  • If your child is aged 11 to 15, they can get their own bank account and savings account
  • You get full visibility of your child’s account activity through your Mobile Banking app or Online Banking
  • They get a VISA debit card to shop safely with, and there are no monthly fees or charges
Money Smart

Financial Services Compensation Scheme

Eligible deposits held with us are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme.

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Visit our FSCS page

Save the Change®

Save the Change® makes saving so easy, you’ll forget you’re doing it.

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Savings accounts and cash ISAs

Whatever you’re saving for, get there with Halifax.

See our savings accounts