Children's Savings

NatWest First Saver Review

A children's savings account from NatWest. It ranks 66th of 73 children's savings accounts we track.

Variable rate

1.60%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

Quarterly

NatWest is also paying up to £500 to switch your current account.

See the switch offer

How It Stacks Up

Ranks 66th of 73

Children's savings accounts we track

Well below average
This account 1.60%
UK CPI (Aug 2026)
3.10%
Pays 1.50% less
Average children's savings
2.92%
Pays 1.32% less
Best children's savings
5.50%
Pays 3.90% 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

Worth Weighing Up

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

Good to Know

This account is for children under 16.

Please verify all details with the provider – see our Disclaimer

See all NatWest accounts

Estimated returns with NatWest's Children's Savings

What you could earn with NatWest's First Saver.

Estimated interest

£1,000 saved

£16.00

At 1.6% AER

£5,000 saved

£80.00

At 1.6% AER

£10,000 saved

£160

At 1.6% AER

£50,000 saved

£800

At 1.6% 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 NatWest First Saver

Jonny PeaseCo-Founder, DepositScout

The NatWest First Saver is aimed at children taking their first steps with money, and it opens with just £1, which removes any barrier to getting started. The 1.60% rate is instant access and interest is calculated daily then paid quarterly in January, April, July and October, which is a reasonable cadence for a young saver to see progress. That said, with CPI at 3.1% as of Aug 2026, the rate sits 1.50% below inflation, so the real value of savings will erode over time. If you want to shop around, Metro Bank Young Savers currently pays 1.65%, which edges ahead of this account.

2 alternatives to NatWest's First Saver

Same type of account, closest on rate.

Common questions about the First Saver

D

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4.75%
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