Children's Savings

Bank of Scotland Children's Saver Review

A children's savings account from Bank of Scotland. It ranks 53rd of 73 children's savings accounts we track.

Variable rate

2.25%AER

Account type
Easy access
Maximum age
15
Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

£5,000

Access

Instant

Interest paid

Monthly

Rate Tiers

£1–£5,000

2.25%AER

Above £5,000

0.75%AER

Applies to the portion above £5,000

How It Stacks Up

Ranks 53rd of 73

Children's savings accounts we track

Well below average
This account 2.25%
UK CPI (Aug 2026)
3.10%
Pays 0.85% less
Average children's savings
2.92%
Pays 0.67% less
Best children's savings
5.50%
Pays 3.25% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

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A Good Fit For

  • Pro: New and existing savers
  • Pro: Savers who want instant access
  • Pro: Savers who want a monthly income

Worth Weighing Up

  • Con: The rate is variable, so it can go down
  • Con: You can only save up to £5,000

Good to Know

This account can be opened by an adult over the age of 18, you can open up to two accounts per child= and online or in app.

Please verify all details with the provider – see our Disclaimer

See all Bank of Scotland accounts

Estimated returns with Bank of Scotland's Children's Savings

What you could earn with Bank of Scotland's Children's Saver.

Estimated interest

£1,000 saved

£22.50

At 2.25% AER

£2,000 saved

£45.00

At 2.25% AER

£3,000 saved

£67.50

At 2.25% AER

£5,000 saved

£112

At 2.25% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on Bank of Scotland Children's Saver

Jan WatermannCo-Founder, DepositScout

The Bank of Scotland Children's Saver pays 2.25% on balances from £1 up to £5,000, making it a straightforward instant-access option for parents or guardians putting money aside for a child. The rate does fall 0.85% below CPI inflation of 3.1% (Aug 2026), so the account preserves the savings habit more than it preserves real purchasing power. The hard cap to watch is the tiered structure: anything above £5,000 earns only 0.75%, so once you approach that ceiling it is worth reviewing where the excess sits. Lloyds Bank's Child Saver also pays 2.25% if you want a close alternative.

Compare Savings Accounts

2 alternatives to Bank of Scotland's Children's Saver

Same type of account, closest on rate.

Common questions about the Children's Saver

D

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4.20% AER
4.75%
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