Children's Savings

Progressive Building Society Children's - 2 Year Fixed Rate Bond Review

One of the best-paying children's savings accounts, from Progressive Building Society. It ranks 5th of 74 children's savings accounts we track.

Fixed rate

4.45%AER

Account type
Fixed rate
Maximum age
15
Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

£20,000

Access

At maturity only

Interest paid

Yearly

How It Stacks Up

Ranks 5th of 74

Children's savings accounts we track

Among the best
This account 4.45%
UK CPI (Aug 2026)
3.10%
Pays 1.35% more
Average children's savings
2.92%
Pays 1.53% more
Best children's savings
5.00%
Pays 0.55% less

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

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Pros and cons

  • Pro: New and existing savers
  • Con: Your money is locked in for 2 years

Good to Know

The bond is available to existing Members and new customers resident in Northern Ireland up to and including 15 years old.

Please verify all details with the provider – see our Disclaimer

See all Progressive Building Society accounts

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

What you could earn with Progressive Building Society's Children's - 2 Year Fixed Rate Bond.

Estimated interest

£1,000 saved

£90.98

At 4.45% AER

£5,000 saved

£455

At 4.45% AER

£10,000 saved

£910

At 4.45% AER

£20,000 saved

£1,820

At 4.45% AER

Estimated over the 24-month term, 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 Progressive Building Society Children's - 2 Year Fixed Rate Bond

Jonny PeaseCo-Founder, DepositScout

Progressive Building Society's Children's 2 Year Fixed Rate Bond pays 4.45%, which sits 1.35% above CPI inflation of 3.1% (Aug 2026), so the money does at least grow in real terms over the two-year term. It suits parents or grandparents looking to lock away a lump sum for a child, with deposits accepted from £1 up to £20,000. The main catch is that there is no access until maturity, so the money is genuinely tied up. If you want a slightly higher rate, State Bank of India's Jumbo Junior Fixed Deposit Account is currently offering 4.65%.

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2 alternatives to Progressive Building Society's Children's - 2 Year Fixed Rate Bond

Same type of account, closest on rate.

Common questions about the Children's - 2 Year Fixed Rate Bond

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