Children's Savings

Penrith Building Society Junior Saver Account Review

A children's savings account from Penrith Building Society. It ranks 61st of 73 children's savings accounts we track.

Headline rate

2.00%AER

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

Min balance

£1

Max balance

No limit

Access

Instant

Interest paid

Yearly

How It Stacks Up

Ranks 61st of 73

Children's savings accounts we track

Well below average
This account 2.00%
UK CPI (Aug 2026)
3.10%
Pays 1.10% less
Average children's savings
2.92%
Pays 0.92% less
Best children's savings
5.50%
Pays 3.50% less

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

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A Good Fit For

  • Pro: Savers who want instant access

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

What you could earn with Penrith Building Society's Junior Saver Account.

Estimated interest

£1,000 saved

£20.00

At 2% AER

£5,000 saved

£100

At 2% AER

£10,000 saved

£200

At 2% AER

£50,000 saved

£1,000

At 2% 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 Penrith Building Society Junior Saver Account

Jonny PeaseCo-Founder, DepositScout

This account is aimed at parents or guardians looking for a simple, instant-access home for a child's savings, with a £1 minimum to get started. The rate sits at 2.00%, which is 1.10% below CPI inflation of 3.1% (Aug 2026), so the money is losing purchasing power in real terms. Without market comparison data I cannot say where it stands against the broader children's savings market, though the Lloyds Bank Child Saver is paying 2.25% if you want to shop around. Interest is paid yearly, which is worth noting if you were hoping for more frequent compounding.

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2 alternatives to Penrith Building Society's Junior Saver Account

Same type of account, closest on rate.

Common questions about the Junior Saver Account

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4.20% AER
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