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Children’s Instant Saver – Issue 1

Start saving for their future today

Set aside savings for your children – as much as you want, whenever you want.

  • 1.51% AER/1.50% gross pa 1 variable
  • Instant access to your money – through online, mobile and telephone banking or in branch 2
  • Open with £1


To apply for this savings account, you must:

  • Be 18 years old or over
  • Be a UK resident for tax purposes
  • Hold the account in your sole name, for one child under 18


Interest will be paid monthly on the first working day of the month, net of basic rate tax. UK resident children under 16 may be able to receive interest gross. Registration must be made by a parent or guardian 3.

The interest rate will never fall below 1.50% gross pa (1.51% AER).

Children’s Instant Saver – Issue 1 interest rates

How to apply

You can apply for this account in branch with your child's birth certificate. If you're new to Barclays, you'll also need to provide proof of ID .

More ways to save

If the Children's Instant Saver isn't what you're looking for, we have other options for you to consider.



If you’re serious about saving, you can put your money away in one of our bonds for a fixed rate of return.

Everyday Saver

Everyday Saver

Save whenever you want, for as long as you want, with our Everyday Saver account.



Cash ISAs

Take advantage of tax-free savings while having access to your money. 4

Important information

1. 'Gross' is the rate payable without tax taken off. If you're eligible to receive savings interest without tax taken off, please provide us with the HMRC form (R85). For more information and the R85 eligibility criteria, visit HM Revenue & Customs (HMRC) . AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year.

2. Online, mobile and telephone banking are only available to Barclays current account holders who are registered for these services.

3. Parents or guardians can register a form R85 for the child to receive interest gross subject to eligibility. Unless cancelled, this is applicable until the end of the tax year in which the child turns 16. If this is the case for you, ask for HM Revenue & Customs R85 and Helpsheet to complete when the account is opened in branch. Once we receive a valid completed form, we’ll pay interest without deducting tax. Additional information and help can be found on the HM Revenue & Customs website.

If a parent gifts money to a child that produces more than £100 gross interest in a tax year, the income is normally taxed as belonging to the adult.

On the 6 April following the child's 16th birthday the account will revert to net interest. To continue to receive gross interest this account will need to be closed and the balance transferred to an adult savings account in the child's own name. Subject to eligibility a new R85 can be registered by the account holder.

4. Tax-free: indicates that interest is exempt from UK income tax provided all ISA conditions are met. The level and basis of tax can change and the value of tax relief depends on your personal circumstances.