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Children’s Savings Accounts

children's savings accounts

Savings accounts for under 16s.

Product Name Minimum Balance Interest Paid Gross Interest % AER % Withdrawals
Young Savers £5+ Annually 1.25 1.25 Easy Access
Wild Ones Young Savers £5+ Monthly 3.00 3.04 30 days' notice to withdraw
Tax treatment depends on individual circumstances and may be subject to change in the future

Savings accounts for under 16s. Encouraging your children to save some pocket money or birthday money is a great way to pass on the “saving mentality”. If you are wanting to encourage your children to save, we have two savings accounts designed for young savers.

Our Young Savers account is an easy access children’s savings account that means you can access your money when you need to. Young Savers is a straightforward children’s savings account that gives you the flexibility to pay money in, and take money out when you need it.

Our Wild Ones Young Savers account is a 30 day notice account. This account offers a higher rate of interest than the easy access Young Savers account but you need to give us 30 days’ notice if you wish to make a withdrawal. The Melton is giving away special Wild Ones Packs to children aged 0 to 16 years who open a Wild Ones Young Savers Account at any of our branches. The Wild Ones Packs contain a pocket wildlife guide, wildflower seeds and more, encouraging young people to enjoy wildlife and get into the habit of saving. New Young Savers can also choose one of our limited edition passbook wallets – will yours be a lizard, toad, rabbit, owl, harvest mouse or a seal?

Take a look at our Handy Guide to making the most of your savings.

Here to help
Not sure which account is right for you? Get in touch and our experienced staff will be happy to talk you through your options and help find the best children’s savings account for you.

How safe are your savings?
You may be worried that if you tie your money up in a savings account, it won't be protected. However, the Financial Services Compensation Scheme is an independent body that serves as a last resort to cover most deposits, including savings up to the value of £85,000. So, if for some reason your bank or building society failed, your money is protected by the FSCS.


Click here for our handy guide to making the most out of your savings

Get In Touch

Call one of our friendly advisors on 01664 414141. Opening hours 9am to 6pm Monday to Friday and 9am to 12pm on Saturday.

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