Children's Savings

Melton Building Society Young savers Review

A children's savings account from Melton Building Society. It ranks 46th of 73 children's savings accounts we track.

Variable rate

2.50%AER

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

Protection

FSCS£120,000

Min balance

£5

Max balance

No limit

Access

Instant

Interest paid

Annually

How It Stacks Up

Ranks 46th of 73

Children's savings accounts we track

Below average
This account 2.50%
UK CPI (Aug 2026)
3.10%
Pays 0.60% less
Average children's savings
2.92%
Pays 0.42% less
Best children's savings
5.50%
Pays 3.00% 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

Worth Weighing Up

  • Con: The rate is variable, so it can go down

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

What you could earn with Melton Building Society's Young savers.

Estimated interest

£1,000 saved

£25.00

At 2.5% AER

£5,000 saved

£125

At 2.5% AER

£10,000 saved

£250

At 2.5% AER

£50,000 saved

£1,250

At 2.5% 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 Melton Building Society Young savers

Jonny PeaseCo-Founder, DepositScout

This account is aimed at children and opens with as little as £5, which makes it accessible. The 2.5% rate is instant access, so there are no withdrawal penalties to worry about, but it sits 0.60% below CPI inflation of 3.1% as of Aug 2026, meaning the money loses purchasing power in real terms. I cannot compare it against the market here, but Suffolk Building Society's Young Saver and Family Tree accounts both pay 2.60%, so I would check those before committing.

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2 alternatives to Melton Building Society's Young savers

Same type of account, closest on rate.

Common questions about the Young savers

D

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Easy Access rate just dropped

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Nationwide FlexSaver Rate Down
4.20% AER
4.75%
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