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Barclays Children’s Savings
Start saving for their future today
If you don't already bank with us, call us on 0345 744 54451 to book an appointment to open an account in a branch. Due to popularity, the next available appointment may be a few weeks away.
Set aside as much as you want, whenever you want, on behalf of a child.2
Already have a Barclays Children’s Savings account? Pay into your account.
- 2.68% AER/ 2.65% gross p.a.3 variable for balances of £1 to £10,000
- 1.16% AER/1.15% gross p.a. variable for balances over £10,000
- Instant access to your money
- Manage your account using our app, Online Banking4, by phone or in a branch
- Open with as little as £1. If you want to save regularly, you can set up a standing order.
Summary box
Account name
Barclays Children's Savings
What is the interest rate?
Effective from 1 September 2023
|
Balance |
Gross rate per year % |
AER % |
|---|---|---|
|
£1+ |
2.65 |
2.68 |
|
£10,000+ |
1.15 |
1.16 |
Interest is calculated daily using your statement balance and is paid on the first working day of each month.
Interest rates on the Barclays Children’s Savings account are banded. This means you’ll earn the higher rate of interest on the first £10,000 of your balance, and the lower rate of interest on your additional balance over £10,000.
Can Barclays change the interest rate?
Yes, rates are variable. We can increase or decrease the interest rates for the reasons set out in our ‘Barclays and you’ booklet, which is available in branch, or you can read our Terms and conditions for Personal customers. Both also explain when we may change the interest rates, and the notice we’ll give you.
What would the estimated balance be after 12 months, based on a £1,000 deposit and deposits for each band of interest?
|
Deposit amount |
Estimated value after a year |
|---|---|
|
£1,000 |
£1,026.84 |
|
£10,000 |
£10,266.40 |
The estimated value is based on no change to the interest rate during 12 months and no withdrawals made.
How do I open and manage my account?
You can open this account from £1 – there’s no maximum balance. This can be done in a branch, or by using Video Banking. For more information, read our ‘How to apply’ section.
If you already bank with us, you can manage your account in a branch, or through Online Banking, the Barclays app or Telephone Banking.
Eligibility
To apply for this account, you must be
- At least 18 to save for the benefit of a child under 18. The adult operates the account as trustee for the child
- Resident in the UK
Can I withdraw money?
Yes, you can access your money anytime.
Additional information
After the child reaches 18, we’ll convert the account to an adult instant-access account. Before doing so, we’ll contact you to tell you the terms that will apply to that account – unless you advise us otherwise.
Terms and conditions
Download the terms and conditions [PDF, 128KB] for our Barclays Children’s Savings account to learn more.
How to apply
Depending on whether you already bank with us, you can apply using Video Banking, or in a branch.
Apply using Video Banking
If you already bank with us, you can apply over a video appointment. You’ll need to be the child’s parent or guardian and have their birth certificate to hand for your appointment.
Appointments last around 45 minutes. We can only open one account at a time – you’ll need to make a new appointment for each account you’d like to open.
Apply in a branch
If you don’t already bank with us, you can apply in a branch. Please bring the child’s birth certificate and some proof of your ID and address.
More ways to save
If the Barclays Children’s Savings account isn't what you’re looking for, we have other options for you to consider.
ISAs
Earn tax-free interest with instant access to your whole balance. Make the most of your 2023/2024 ISA allowance of £20,000 and feel good about saving.