Children's Savings

Monzo Under 16s Instant Access Review

A children's savings account from Monzo. It ranks 40th of 73 children's savings accounts we track.

Variable rate

2.75%AER

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

Protection

FSCS£120,000

Min balance

£1

Max balance

£10,000

Access

Instant

Interest paid

Monthly

How It Stacks Up

Ranks 40th of 73

Children's savings accounts we track

Below average
This account 2.75%
UK CPI (Aug 2026)
3.10%
Pays 0.35% less
Average children's savings
2.92%
Pays 0.17% less
Best children's savings
5.50%
Pays 2.75% less

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

Compare savings accounts

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

Ages 6–15; max £10k/child

Please verify all details with the provider – see our Disclaimer

See all Monzo accounts

Estimated returns with Monzo's Children's Savings

What you could earn with Monzo's Under 16s Instant Access.

Estimated interest

£1,000 saved

£27.50

At 2.75% AER

£5,000 saved

£138

At 2.75% AER

£10,000 saved

£275

At 2.75% 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 Monzo Under 16s Instant Access

Jonny PeaseCo-Founder, DepositScout

This account is aimed at under-16s and pays 2.75% on balances from £1 up to a £10,000 maximum, with interest calculated daily and paid monthly. At that rate it sits 0.35% below CPI inflation of 3.1% (Aug 2026), so the money is losing purchasing power in real terms. I have no market comparison data to judge where 2.75% sits in the children's savings space, though the Nationwide Children's Future Saver appears in the alternatives at 2.80%. One feature worth noting is the parent or guardian can lock the savings until a set date, which could be useful for keeping a child from dipping in early.

2 alternatives to Monzo's Under 16s Instant Access

Same type of account, closest on rate.

Common questions about the Under 16s Instant Access

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%
View Best Rates
Live Market Tracking

Be the first to know when this Monzo rate drops.

Join 1,000+ savers using DepositScout who get instant email alerts when top UK savings rates change. Never miss out on a better deal again.

Takes 30 seconds · No spam · Unsubscribe any time