Parents and stepparents might need to pay tax if the money they give to a children’s savings account earns more than £100 of interest in a year. However, you shouldn’t have to worry about this limit if you’re a grandparent or family friend. You can find out more information at gov.uk.

Tax free Interest means interest payable is exempt from UK income tax. Tax reliefs referred to are those applied under current UK legislation, which may change.

Junior ISAs are also available, which offer tax-free interest and returns.

Yes, you can open a First Saver for your grandchild as long as you are opening the account in trust for a child who is under 16 years old. Both you and the child need to reside in the UK and you need to have a NatWest current account.

Interest rates change from time to time. That means you might need to shop around to find the best rate on a child savings account. However, other factors may be worth exploring too, such as potential withdrawal limits or access restrictions.

With First Saver, interest is calculated daily and paid quarterly on the first business day in January, April, July and October, as well as when you close the account.

Finding the best kids savings account for your baby or child will depend on what you want. For example, it’s useful to compare interest rates and access to your money. 

Our First Saver account is designed with children in mind. You can open it with just £1, get a competitive interest rate, access your money at any time, and save through our banking app.

Explore our range of child and teen accounts

Account eligibility criteria apply.

NatWest First Saver is a kids savings account. For accounts held in trust, you can transfer money online, by telephone, or on the mobile app to any other UK bank account. You can withdraw money in branch.

Can I withdraw money from a First Saver account at any time?

Yes, First Saver offers instant access, so you can take money out of it straight away, with no restrictions.

A First Saver account is only for people aged 0-15 years. But our Digital Regular Saver account is available for those aged 16 or over. 

You can also convert a First Saver account into an adult savings account when your child turns 16. 

Compare your savings account options.

Aged 16 or 17 and looking to open a bank account? Our Adapt account is a teen and kids bank account with no regular fees.

Our Adapt account is available to 11-17 year olds who are UK residents. 11-15s must apply with a parent or guardian who has a NatWest current account.

Yes, you can easily open a savings account for a baby with NatWest. You’ll simply need to:

• Take a picture of the child’s ID. This could be their passport, or their UK birth/adoption certificate.
• Confirm your email address and mobile number.
• Use our mobile app, website or telephone service (mobile app criteria apply). To open a kid's savings account in branch, bring along your own digital device, such as a mobile or tablet. Our staff can then guide you through the process.
• Remember that there’s no minimum deposit required to open the account. No minimum deposit needs to be made on a regular basis either and there is no maximum balance limit.

To open a First Saver account, you’ll need to be:

• 18 or over
• a NatWest current account holder
• opening the account in trust for a child under 16, with both you and the child residing in the UK.