Protection
FSCS£120,000
Min balance
£0
Max balance
No limit
Access
Limited withdrawals
Interest paid
Anniversary
Nationwide is also paying £175 to switch your current account.
Rate Tiers
1 or fewer withdrawals
2.80%AER
Full rate for up to 1 withdrawal per account year
2 or more withdrawals
1.35%AER
Lower rate applies for rest of account year after 2nd withdrawal
How It Stacks Up
Ranks 38th of 73
Children's savings accounts we track
This account 2.80%
- UK CPI (Aug 2026)
- 3.10%
- Pays 0.30% less
- Average children's savings
- 2.92%
- Pays 0.12% less
- Best children's savings
- 5.50%
- Pays 2.70% less
Inflation: ONS. Averages and best rates: accounts on DepositScout.
Pros and cons
- Pro: New and existing savers
- Con: The rate is variable, so it can go down
Good to Know
Savers can make 1 withdrawal per account year without penalty; a second or further withdrawal triggers the lower rate for the rest of that year.
Please verify all details with the provider – see our Disclaimer
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