What interest rate does the Lloyds Bank Child Saver pay?

The Lloyds Bank Child Saver pays 2.25% AER variable.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £225 at 2.25% AER. This assumes the rate stays the same and interest stays in the account.

Who can open this account?

New and existing Lloyds Bank customers can open it. You can open it online, in branch, in the app or by phone.

Is my money protected?

Yes. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking licence.

How does it compare with other children's savings accounts?

At 2.25% AER it ranks 53rd of 73 children's savings accounts we track. The best pays 5.50% and the average is 2.92%.

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Children's Savings

Lloyds Bank Child Saver Review

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

Rate checked Oct 2026Got this account? Leave a review

Variable rate

2.25%AER

Account type: Easy access

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

No limit

Access

Instant

Interest paid

Monthly

Lloyds Bank is also paying £200 to switch your current account. Offer ends 9 December 2026.

See the switch offer

Rate Tiers

£1 to £5,000

2.25%AER

Over £5,000

0.75%AER

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

Good to Know

On the child's 16th birthday, the account will change to an adult Easy Saver.

Please verify all details with the provider – see our Disclaimer

See all Lloyds Bank accounts

Estimated returns with Lloyds Bank's Children's Savings

What you could earn with Lloyds Bank's Child Saver.

Estimated interest

£1,000 saved

£22.50

At 2.25% AER

£5,000 saved

£112

At 2.25% AER

£10,000 saved

£75.00

At 0.75% AER

£50,000 saved

£375

At 0.75% 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 Lloyds Bank Child Saver

Jonny PeaseCo-Founder, DepositScout

The Lloyds Bank Child Saver pays 2.25% on balances up to £5,000, but that rate drops sharply to 0.75% on anything above that, so it works best for parents or grandparents keeping a modest pot for a child rather than building a larger lump sum. There are no withdrawal restrictions, which suits families who may need occasional access. At 2.25%, the rate sits 0.85% below CPI inflation of 3.1% (Aug 2026), meaning the money is losing real value in the background. If you want to compare, Lloyds also offers the Smart Start at the same 2.25% rate.

Compare Savings Accounts

2 alternatives to Lloyds Bank's Child Saver3 alternatives to Lloyds Bank's Child Saver

Same type of account, closest on rate.

Common questions about the Child Saver

DepositScout Alerts

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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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