First Saver

Open an account in trust for your child and help them save for the future

Why choose First Saver?

Free, instant access savings account for children under 16.

Access funds instantly, if you need them.

Hold the account in trust for a child.

Get a free Pigbybank and access to Pigby's World of savings tips.

Eligible for Round Ups.

Summary Box

Account name: First Saver

What is the interest rate?

Interest is calculated daily and paid quarterly on the first business day in January, April, July and October and at account closure. You’ll be able to see and access the interest in your account on the following day.

Can NatWest change the interest rate?

Yes, this rate is variable. It may be changed for any of the reasons set out in Term 9.2 of the Savings Account Terms, e.g. to take account of Bank of England base rate changes or changes in the rates paid by other banks. If the rate is going down we’ll give you at least 60 days’ notice. If it is going up, we’ll inform you before the change or shortly afterwards. Term 9.2 (PDF, 281 KB) contains details of the notice we’ll give you.

What would the estimated balance be after 12 months based on a range of deposits?

This is only an example and does not take into account your individual circumstances. It assumes that no further deposits or withdrawals are made; there is no change to interest rate; and any interest earned stays in the account.

How do I open and manage my account?

Am I eligible for First Saver?

You need to be aged 18 or over, and be 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

You need to have a NatWest current account


Opening a First Saver:

You'll need to take a picture of the child's ID, for example their passport or birth certificate, when applying for this account. See full list here 

You'll need to confirm your email address and mobile number to open the account.

You can open and manage the account on our mobile app, online or by telephone.

To open in branch, you must bring your own digital device such as a mobile or tablet, so our staff can assist you in opening the account.

There is no minimum deposit required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit.

We can only take instructions from you, the adult trustee, on the account. We cannot take instructions from the child.

You can use Round Ups with First Saver.

When the child is 16 years old (if your address is in Scotland), or 18 years old (if your address is elsewhere in the UK) they will be legally entitled to the money in the First Saver account.

At that age, you should make your own arrangements to transfer the account into the child's name so they can access the money.

Can I withdraw money?

Additional information


AER: This is a notional rate used for interest bearing accounts which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.

Gross: The interest rate you are paid without the deduction of UK income tax.

p.a.: per annum (per year)

Get ready to apply

Before you apply, we need to check you're happy with a few things, and ask you a few questions up front. Then we can make your application as quick and simple as it can be. 

Please review the important legal stuff:

Please take some time to review, print and/or save the important information. By clicking to proceed you are confirming that you have been provided with, and have acknowledged our important documents including the FSCS information sheet.

Ready to apply?

Before you start your application we need to check a few things. 

Do you have Digital Banking?

Great. Let's get your application started

Before you start, lets check:

  • You're 18 or over
  • The child is under 16 years old 
  • You both reside in the UK 
  • You have an existing current account with us
  • You have a picture of the child's ID, such as their passport or birth certificate

Register for Digital Banking

You'll need to sign up for Digital Banking with us using the below link in order to apply for the First Saver account online. The good news is that it normally just takes 5 minutes. 

What you'll need

You'll need your sort code and account number, and your NatWest debit card if you have one. 

How your information might be used

It’s important for you to understand how we use and share your information. Please read this short summary before you continue with your application.

All things Pigby

Free Pigbybank to new First Saver Customers

Open a First Saver account and your child will receive their very own free Pigbybank to help them start saving.

For non-First Saver customers, buy your own Pigbybank for £10 and have it delivered straight to your door.

Pigbybanks are subject to availability and are only suitable for children 3+.

Buy a Pigbybank

Visit Pigby's world

Our First Saver account is designed to teach children how to save and Pigby and his friends are here to make it fun along the way.

Visit Pigby World now to find out more about Pigby and his friends and download our Savings Workbook.

You can also set up your own stall and learn how to save with the Pigby's Fair app.

Financial Services Compensation Scheme

Your eligible deposits with NatWest are protected up to a total of £85,000, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.

Find out more about the scheme and how it protects your money.

Something else we can help you with?