Children's Savings

Progressive Building Society Children's Regular Saver Account Review

One of the best-paying children's savings accounts, from Progressive Building Society. It ranks 15th of 83 children's savings accounts we track.

Variable rate

4.00%AER

Account type
Regular saver
Minimum age
From birth
Maximum age
17
Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

No limit

Access

Instant

Interest paid

Annually

How It Stacks Up

Ranks 15th of 83

Children's savings accounts we track

Among the best
This account 4.00%
UK CPI (Aug 2026)
3.10%
Pays 0.90% more
Average children's savings
3.02%
Pays 0.98% more
Best children's savings
6.00%
Pays 2.00% less

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

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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

Only for Northern Ireland residents under 18 (new customers and existing members). Opened by a parent, guardian or relative for under-16s; ages 16–17 can open and run their own or via an adult. One Children's Regular Saver per child, run by passbook in branch, at an agency or by post. Moves to an adult instant access account at 18.

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 Regular Saver Account.

Estimated interest

£1,000 saved

£40.00

At 4% AER

£5,000 saved

£200

At 4% AER

£10,000 saved

£400

At 4% AER

£50,000 saved

£2,000

At 4% 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 Progressive Building Society Children's Regular Saver Account

Jonny PeaseCo-Founder, DepositScout

This account is aimed at parents or guardians looking to build a savings habit for a child, paying 4.00% with instant access and a starting deposit of just £1. The rate sits 0.90% above CPI inflation of 3.1% (Aug 2026), so the money is at least growing in real terms. The main catch is the monthly deposit cap of £500, and unused allowance cannot be carried forward, so if you miss a month that capacity is gone. If you want to compare options, Coventry Building Society's Young Saver and Skipton Building Society's Young Regular Saver both also pay 4.00%.

Compare Savings Accounts

2 alternatives to Progressive Building Society's Children's Regular Saver Account

Same type of account, closest on rate.

Common questions about the Children's Regular Saver Account

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