However you want to save for your children, there's a children's savings account to match.
Compare our children's savings accounts
Young Saver
- Earn up to 2.82% Gross/ 2.85% AER (variable)
- For children under 16
- Instant access
Junior Cash ISA
- Earn 3.25% interest tax-free/ AER (variable)
- Converts to Cash ISA Saver (without bonus) when the child turns 18
- No withdrawals until the child turns 18
Looking to invest?
We've teamed up with Wealthify to offer our customers a simple, affordable Junior Stocks and Shares ISA. With investments, your money is at risk.
Children's Savings FAQS
Our Young Saver account allows anyone over the age of 18 to open an account for a child under 16 on their behalf as long as you hold a TSB current account and are a UK resident.
To open a TSB Junior Cash ISA for a child under 16, you must have parental responsibility for the child to open the account. If the child is between 16 and 17 they must open a junior ISA account in their own name.
Our Young Saver accounts allows instant access withdrawals with no penalties.
If you have a junior ISA you’re unable to withdraw funds before the child is 18, there are some exceptions in case of terminal illness and requires HMRC permission to make a withdrawal.
Important Information
The Annual Equivalent Rate (AER) shows what the interest would be if the interest was paid and added to the account once each year. It lets you compare savings accounts easily. Gross rate means that credit interest is paid without income tax being deducted. Tax-free is the contractual rate of interest payable where interest is exempt from income tax. Tax treatment depends on your individual circumstances and may change.
You need to be 16+ and UK resident to open most of our savings accounts with the exception of Savings Pots and TSB ISAs. For children under 16 please see specific pages for opening procedures.
