Children's Savings

Coventry Building Society Young Saver Review

One of the best-paying children's savings accounts, from Coventry Building Society. It ranks 10th of 73 children's savings accounts we track.

Variable rate

4.00%AER

Account type
Easy access
Minimum age
7
Maximum age
17
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

How It Stacks Up

Ranks 10th of 73

Children's savings accounts we track

Among the best
This account 4.00%
UK CPI (Aug 2026)
3.10%
Pays 0.90% more
Average children's savings
2.92%
Pays 1.08% more
Best children's savings
5.50%
Pays 1.50% 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

For children aged 7 to 17. £1 to £5,000. Interest paid monthly into the account (3.93% gross, 4.00% AER). Becomes an Easy Access Saver on the child's 18th birthday.

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See all Coventry Building Society accounts

Estimated returns with Coventry Building Society's Children's Savings

What you could earn with Coventry Building Society's Young Saver.

Estimated interest

£1,000 saved

£40.00

At 4% AER

£2,000 saved

£80.00

At 4% AER

£3,000 saved

£120

At 4% AER

£5,000 saved

£200

At 4% 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 Coventry Building Society Young Saver

Jonny PeaseCo-Founder, DepositScout

The Coventry Building Society Young Saver pays 4.00% with instant access and a low entry point of just £1, making it a decent option for parents wanting a flexible home for a child's money. With CPI at 3.1% as of Aug 2026, the rate sits 0.90% above inflation, so the money does at least grow in real terms. The main catch is the £5,000 balance cap. If you can accept less flexibility, Saffron Building Society's Ladybird 1 Year Fixed Rate Bond offers 4.10%.

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2 alternatives to Coventry Building Society's Young Saver

Same type of account, closest on rate.

Common questions about the Young Saver

D

DepositScout Alerts

2 minutes ago

Easy Access rate just dropped

A top provider just cut their rate. Here's what you need to know about the latest market shift.

Nationwide FlexSaver Rate Down
4.20% AER
4.75%
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