Start saving for their future with a Child Saver account. Open with just £1 and enjoy watching their savings grow.
Earn 2.00% AER/1.98% gross variable on balances of £1-£5,000.
Earn 0.20% AER/0.20% 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 terms and conditions (PDF) 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 £1019.98.
If you deposit £6000.00 when you open the account, the balance after 12 months will be £6101.09.
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:
The account can be managed online, on our app, in branch and by phone. To open the account in your local Lloyds Bank branch, you'll need to bring proof of your own identity as well as the child's (such as a passport or birth certificate). Find your nearest branch >
Bear in mind:
Yes. You can make as many withdrawals as you like and there are no charges for doing so.
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 glossary.
You can open an account if:
Please read the summary box and the terms and conditions (PDF) before you start.
Compare our children's savings accounts to find the right one for you.
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