How can I save for my child’s future?

There are many different ways to contribute to a child’s financial future including savings, premium bonds, investments and pensions.

Savings options for children

Parents and grandparents can help to encourage children to save early to create good money habits and afford special items. Over time the interest earned, even on small sums, can add up to create the deposit for a car or flat, or ensure a child’s future financial security.

The benefits of saving

Saving a little each month can help children learn about the importance of managing money in future. There are many benefits to opening a savings account for your child, including:

  • creating positive saving habits
  • providing a safe place to keep money
  • helping children set and work towards financial goals
  • allowing children to earn interest, which can grow over time - even on small sums
  • supporting future financial security

Ways to save

Children's savings accounts are a great way to put away money for your younger ones. Or encourage them to save with their own savings account.

Smart Start

Smart Start

It’s never too early to teach them about money. For 11-to-15-year-olds who want to save, spend and learn with parental oversight.

Smart Start savings

Child Saver

Child Saver

For adults who want to save for a child aged 15 or under.

Under 15s Child Saver

Junior Cash ISA

Junior Cash ISA

For under 18s who want to save for the future. Our Junior ISAs for children can build savings that will come of age with your child. 

Junior Cash ISA

Looking for more?

View our full range of youth and student accounts.

Investing in your child’s future

We all strive to protect our children. There are steps you can take to plan ahead, to provide them with financial stability in the future.


Premium Bonds

Premium Bonds are savings bonds, which can be purchased for as little as £25. Issued by the UK government they offer tax-free prizes instead of interest. Bonds can be bought for children under 16 if you are their parent, legal guardian or grandparent, up to a maximum holding level of £50,000. 

Visit the NS&I site


Child pension

Any parent or legal guardian can set up a child pension. The child can access these savings when they reach the age of 55. This is set to increase to 57 years old in 2028, and may change again in the future. You can save up to £2,880 tax free in each tax year. The government then tops this up by 25%, taking your yearly total to £3,600. Any growth is tax free. Like any investment, your fund value can go down as well as up. 

Learn more about pensions


Child Trust Fund

If a child was born between 2002 and 2011, they might have a Child Trust Fund. These were replaced in 2010 by Junior ISAs, but existing accounts can still be paid into, or parents can transfer savings to Junior ISAs. 

The account can be managed by parents or guardians until the child reaches 18, at which point it can be cashed or transferred into an ‘adult’ ISA. 

Child Trust Fund checker

Wills and inheritance

A will can set out financial arrangements for your children as they grow up. You can set out if you want to leave any money to them, or make them beneficiaries to any policies you may have. 

If you want your child to benefit from your will, you’ll also need to consider at what age you want them to receive full control of their inheritance. 

Read our making a Will article

*Information on this page correct as of February 2023.

Tips and tools

Savings calculator

Work out how much you need to save monthly to reach your savings goal, or how long it will take you to get there. You can also work out how much you’ll have if you save a regular amount each month.

Try out our calculator

Smart Start for Children

Smart Start is a Spending and Savings Account for 11-to-15-year-olds with parental oversight. Good money habits for your child start here. 

More about Smart Start

Savings tools and tips

From starting to save to developing new saving habits, our tools and tips can help you along the way.

See our savings tips