From 19 March 2025, Britain’s biggest building society will launch Children’s Future Saver - an account
aimed at parents saving on behalf of their children.
Children’s Future Saver:
The new Children’s Future Saver account is available for parents looking to save on behalf of children aged 0-17 and pays 3.55% AER/gross.
The account must be opened in branch and parents can invest up to £5,000 per annum. The account allows up to one withdrawal per year with no impact on rate, but if more than one withdrawal is made during the account year, the account will pay 1.80% AER/gross until the anniversary of the account opening, at which point it will revert to the higher rate.
The account will be made available online later this year.
Richard Stocker, Head of Savings at Nationwide, said: “Saving is a skill for life, and we recognise the need to help families save for their children.
“Many people want to start saving for their child’s future as soon as they are born as they want to help build a healthy savings pot for when they become adults. Our Children’s Future Saver account allows them to put money away regularly or add in cash presents from family and friends to build up a savings nest egg at a slow and steady pace.
“Getting into a savings habit is an important life skill, which people can teach their children so that in future they are ready to manage their money independently.”
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