Building Society Children’s Regular Saver Accounts UK
Children’s regular saver accounts let a parent, grandparent, guardian or sometimes the child put away a limited amount each month. The strongest live building society rate we verified on 22 September 2026 is currently 6.00% AER on Monmouthshire Building Society’s Young Regular Saver, but its branch/agency opening requirement means it will not be practical for every UK family.
Other live options include Penrith at 4.45%, Principality, Skipton and Suffolk at 4.00%, and several accounts with different withdrawal, age and local-residency rules. The important question is therefore not simply “which rate is highest?” but who owns the money, who can operate the account, how much can be paid in and whether the savings can be taken out before age 18.
Independent comparison reviewed 22 September 2026. Building-society.org is not connected with any of the societies listed below.
Children’s Regular Saver Accounts: Quick Answers
Building Society Children’s Regular Saver Rates: September 2026
The table focuses on live accounts specifically designed to build a child’s savings through regular monthly deposits. Products are not ranked as recommendations; the age, location and access rules can matter more than a small rate difference.
Monmouthshire Young Regular Saver — 6.00% AER
Monmouthshire Building Society’s Young Regular Saver Issue 1 currently pays 6.00% AER/gross variable, making it the highest live child-specific building society regular saver verified in this review.
Official productMonmouthshire Young Regular Saver
After opening this link:
- Confirm the current 6.00% AER because the rate is variable.
- Check the child’s age and residency eligibility.
- Read who can act as an authorised signatory for a child under 18.
- Check the £100 monthly payment limit.
- Use the branch or agency finder before planning to apply.
- Save the current terms before opening the account.
Penrith Junior Affinity Regular Saver — 4.45% AER
Penrith Building Society’s Junior Affinity Regular Saver currently pays 4.45% gross/AER variable. It is a much longer commitment than most regular savers, running for five years.
Official PenrithPenrith Junior Affinity Regular Saver
After opening this link:
- Check that 4.45% AER is still displayed.
- Read the five-year term before deciding the account fits the child’s goal.
- Check the £5–£100 monthly payment range.
- Read the two-withdrawal rule carefully.
- Download the application form and identification requirements.
- If applying by post, follow Penrith’s current instructions for the opening cheque and proof of identity.
Principality 3 Year Children’s Regular Saver — 4.00% Fixed
Principality’s account stands out because its 4.00% AER/gross rate is fixed for three years. Most other children’s regular savers in this comparison have variable rates.
Official PrincipalityPrincipality 3 Year Children’s Regular Saver
After opening this link:
- Confirm the current 4.00% fixed AER.
- Check whether the child is under 16.
- If the child is under 14, read the trustee-account requirement.
- Check the £150 monthly contribution limit.
- Read the no-withdrawal rule and early-closure process.
- Download and retain the product terms before applying in branch or by post.
Skipton Young Regular Saver — 4.00% AER for Ages 12–17
Skipton’s Young Regular Saver is aimed specifically at teenagers aged 12 to 17. It currently pays 4.00% gross p.a./AER variable for a 12-month term.
Saving rules
- Open from £1.
- Pay in up to £100 each month.
- You do not have to contribute every month.
- Unused monthly allowance can currently roll forward within the 12-month contribution limit.
Access rules
- Withdrawals are permitted without notice.
- No withdrawal penalty under the current terms.
- Money belongs to the child.
- Account moves to an easy-access product when the child reaches 18.
Official SkiptonSkipton Young Regular Saver
After opening this link:
- Check the child is aged 12–17.
- Confirm the current variable AER.
- Read the £100 monthly contribution rule.
- Check whether the child will operate the account alone or with an adult operator.
- Read Skipton’s current withdrawal and maturity terms.
- Use the branch or postal application route shown on the live page.
Suffolk Children’s Regular Saver (Trust) — 4.00% AER
Suffolk Building Society’s Children’s Regular Saver is different because it is explicitly structured as a bare trust savings account. The saved balance and interest belong to the child.
Official SuffolkSuffolk Children’s Regular Saver (Trust)
After opening this link:
- Read the bare-trust explanation before contributing money.
- Check that you qualify to act as trustee.
- Confirm the current 4.00% variable AER.
- Read the £1–£200 monthly payment rules.
- Read the closure rule because partial withdrawals are not allowed.
- Download the application, identity and FSCS documents before applying.
More Building Society Children’s Regular Saver Accounts
Which Children’s Regular Saver Fits Your Situation?
Who Actually Owns Money in a Children’s Savings Account?
Do not assume that because an adult opens or operates the account, the adult owns the money. Many child savings accounts state that funds paid in are gifts to the child and belong to the child beneficially.
Child is the account owner
Accounts such as Skipton’s Young Regular Saver make clear that the child owns the balance. Adults may help operate the account, but withdrawals must be consistent with the account rules and the child’s ownership.
Bare trust account
Suffolk’s Children’s Regular Saver is expressly held as a bare trust. The trustee manages the account, but the child is the beneficial owner of the savings and interest.
Tax on Children’s Savings: The £100 Parent Rule
Children do not automatically pay tax simply because an ordinary savings account is not an ISA. However, there is a special HMRC rule for interest generated by money given to a child by a parent.
Official GOV.UKGOV.UK: Interest on Savings for Children
After opening this link:
- Read the section explaining interest from money given by a parent.
- Check whether the child received more than £100 of relevant interest in the tax year.
- Remember that the rule concerns interest, not simply the amount deposited.
- Read the exceptions for grandparents, relatives, friends, Junior ISAs and Child Trust Funds.
- If the amounts are material or ownership is complicated, check with HMRC or a tax professional.
Children’s Regular Saver vs Junior Cash ISA
A children’s regular saver and Junior Cash ISA can both be used to build money for a child, but they solve different problems.
Children’s regular saver
- Usually limits how much can be paid in each month.
- May allow withdrawals before age 18.
- Interest is normally paid gross rather than inside an ISA wrapper.
- Can have trust, nominee or child-operated structures.
- Often useful for teaching a child to save regularly.
Junior Cash ISA
- Interest is tax-free.
- 2026/27 annual Junior ISA subscription limit is £9,000.
- Money belongs to the child.
- The child can take control at 16.
- Normal withdrawals are not available until age 18.
Official Junior ISA rulesGOV.UK Junior ISA Guide
After opening this link:
- Check that the child meets the Junior ISA eligibility rules.
- Confirm the £9,000 2026/27 contribution limit.
- Read who can open and manage the account.
- Note that the money belongs to the child.
- Read the age-16 control rule and age-18 withdrawal rule.
- If the child already has a Child Trust Fund, read the transfer requirement before opening a Junior ISA.
Can Grandparents Open a Regular Saver for a Grandchild?
Sometimes, but provider rules differ. A grandparent should not assume every child regular saver permits them to be the account operator.
Documents You May Need to Open a Child Regular Saver
Small building societies commonly use branch or postal applications, so identification requirements can be more important than they are with an app-only adult savings account.
Local and Branch Restrictions Matter
Smaller mutuals often pay competitive child-savings rates because they operate through local branches, agencies or postal applications rather than nationwide digital platforms.
Are Children’s Building Society Savings FSCS Protected?
Eligible deposits at UK-authorised building societies are covered by the Financial Services Compensation Scheme. Since 1 December 2025, the standard deposit-protection limit has been £120,000 per eligible person, per authorised firm.
Official FSCSFSCS Deposit Protection Limit
After opening this link:
- Confirm the current £120,000 standard limit.
- Use the bank and savings checker for the chosen building society.
- Check whether another savings brand shares the same authorisation.
- If money is held in trust, check whose protection limit applies based on beneficial ownership.
- Keep provider statements and trust/account-opening records showing who owns the money.
Why the Highest AER Does Not Mean the Most Interest
Regular savers are funded gradually. If you contribute £100 at the start of each month, the first £100 earns interest for roughly a year while the final £100 may earn for only about one month before the annual illustration point.
Regular saver
Usually gives a higher headline AER but limits monthly deposits. It suits money being accumulated from pocket money, gifts or monthly family contributions.
Lump-sum children’s account
May pay a lower AER but allows a larger amount to start earning immediately. This can produce more actual interest when a family already has a substantial lump sum.
Common Mistakes With Children’s Regular Savers
Before Opening an Account: Parent or Guardian Checklist
Related Building Society Savings Guides
Official Sources Used for This Comparison
How This Children’s Savings Comparison Was Checked
Last full editorial review: 22 September 2026. Variable rates and open product issues can change after publication.
Independent Financial Information Notice
Building-society.org is an independent information website and is not connected with Monmouthshire, Penrith, Principality, Skipton, Suffolk, Saffron, Vernon, Hinckley & Rugby, Mansfield, Chorley or any other building society mentioned on this page.
This page is not personalised financial or tax advice. Ownership, trust arrangements, parental gifts and tax treatment depend on the account structure and the family’s circumstances.
Building Society Children’s Regular Saver FAQs
1. Which building society has the highest children’s regular saver rate?
Among the live child-specific building society regular saver accounts checked on 22 September 2026, Monmouthshire Building Society’s Young Regular Saver Issue 1 displayed the highest rate at 6.00% AER/gross variable. It must currently be opened and managed in branch or through an agency, so practical availability matters.
2. How much can I save each month for a child?
It depends on the account. Current examples range from £100 a month at Monmouthshire, Penrith, Skipton, Vernon and Mansfield to £150 at Principality and Chorley, £200 at Suffolk and £250 at Hinckley & Rugby. Always check the exact live product limit.
3. Can grandparents open a children’s regular saver?
Some building societies allow this. Suffolk explicitly permits eligible grandparents to act as trustees, while Monmouthshire and Mansfield also provide routes involving grandparents under their current conditions. Other societies may require a parent, guardian or parental consent.
4. Can a child withdraw money from a regular saver?
That depends on the product and the child’s age. Skipton and Monmouthshire currently allow withdrawals, while Principality does not permit withdrawals during its three-year term. Hinckley & Rugby allows early access only by closing the account. Read the specific account rules before depositing.
5. Does the money in a children’s savings account belong to the child?
Often yes. Several providers explicitly state that money paid into the account belongs to the child. Suffolk’s Children’s Regular Saver is structured as a bare trust in which the child is the beneficial owner even though an adult trustee operates the account.
6. Is interest on a child’s savings account tax-free?
Not automatically. Ordinary children’s savings interest is generally paid gross, and tax depends on the child’s and family’s circumstances. A special HMRC rule can treat interest from money given by a parent as the parent’s income if the relevant interest from that parent’s gift exceeds £100 in a tax year.
7. Does the £100 parent tax rule apply to money given by grandparents?
GOV.UK says the specific £100 parental-interest rule does not apply to money given by grandparents, other relatives or friends. Other tax and ownership rules can still apply, so this should not be treated as a way for an adult to retain ownership of money genuinely gifted to a child.
8. Is a Junior Cash ISA better than a children’s regular saver?
They are different. A Junior Cash ISA provides tax-free interest and normally locks the child’s money until age 18. A regular saver may offer more flexible access and encourage monthly saving but can have ordinary savings tax rules. The 2026/27 Junior ISA subscription limit is £9,000.
9. Are children’s building society accounts protected by FSCS?
Eligible deposits at UK-authorised building societies are generally covered by the Financial Services Compensation Scheme up to £120,000 per eligible person, per authorised firm. For a child-owned account, the child’s beneficial ownership is relevant to the protection calculation.
10. What documents are needed to open a children’s regular saver?
Requirements vary, but providers may ask for the child’s birth certificate or passport, evidence of address, adult trustee or operator identification and proof of parental responsibility where relevant. Postal and branch products may have different document-certification requirements.