Go paper-free
Amend paper-free preferences for your statements and communications.
Kids' Saver
Put away for a little one's future in a Kids' Saver account. Read the summary box before applying.
The Halifax brand is changing to Lloyds
Learn about the brand change and how it affects Halifax savings accounts.
Bank on Lloyds for your next savings account
Halifax and Lloyds are part of the same family of brands. You’ll find a wide range of savings accounts with the same great service from the people you know and trust.
Features and benefits
Let's break it down
Summary box for the Kids' Saver
-
2.25% AER/2.23% gross variable on balances from £1 to £5,000.
0.75% AER/0.75% 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 £1,000.00 when you open the account, the balance after 12 months will be £1,022.52.
If you deposit £6,000.00 when you open the account, the balance after 12 months will be £6,119.40.
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.
-
Open this account online or in our app. Once it’s set up, you can manage the account online, in our app, in branch or by phone.
You can open this account if you:
- are saving for a child aged 15 or under
- are 18 or over
- live in the UK
- have a personal current account or savings account with us
- are the child’s parent or legal guardian, or have their permission.
Things to keep in mind
- You can open the account with as little as £1.
- If you don’t live at the same address as the child, we’ll write to their address to inform their parent or legal guardian.
- If they ask us not to keep the account open, we’ll close it and return the money saved.
- A child can have up to 2 Kids’ Saver accounts with us.
- We’ll contact the child when they turn 16 to let them know we hold their personal information, and we’ll contact you before this happens.
Entering the child’s details
When you open the account, make sure you enter the child’s full name and date of birth exactly as shown on their ID – don’t use shortened names or nicknames.
If we need ID to complete your application, we’ll get in touch to ask for a valid passport or a full UK birth certificate showing both the child’s and parent’s details.
Cheque deposits
Cheques must be made payable to the adult named on the account. You can pay them in using our app or an in‑branch deposit machine.
-
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.
-
Savings terms explained
AER
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account that shows an interest rate, you'll 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.
Gross rate
This means we won’t remove tax from the interest we pay on money in your account. You’ll need to pay any tax you may owe to HM Revenue & Customers (HMRC).
For more definitions, view our glossary.
Open a Kids' Saver
You should read the summary box and the account conditions (PDF, 210KB) before you apply.
If you're using the Halifax app
If you’re using the Lloyds app - head to Lloyds for your next savings account.
