Protection
FSCS£120,000
Min balance
£10
Max balance
No limit
Access
Instant
Interest paid
Monthly
HSBC is also paying up to £500 to switch your current account.
Rate Tiers
Up to £3,000
3.75%AER
Over £3,000
1.10%AER
How It Stacks Up
Ranks 14th of 73
Children's savings accounts we track
This account 3.75%
- UK CPI (Aug 2026)
- 3.10%
- Pays 0.65% more
- Average children's savings
- 2.92%
- Pays 0.83% more
- Best children's savings
- 5.50%
- Pays 1.75% less
Inflation: ONS. Averages and best rates: accounts on DepositScout.
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
Good to Know
Tiered: 3.75% AER on the first £3,000, 1.10% on anything above; no maximum balance. £10 to open. Interest paid monthly into the account. For children aged 7 to 17; becomes a Flexible Saver on the 18th birthday.
Please verify all details with the provider – see our Disclaimer
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