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Compare our children's saving accounts

Help your children build up a pot of money for the future and teach them about the importance of saving.

Why choose Family Building Society?

We're an award-winning building society that does things differently, with over 125 years’ experience supporting savers and over 47,000 account holders. No matter what you're saving for we're here to help and have a chat if you like, with minimum jargon.

Junior Cash ISA (2) – you will need to be someone who has ‘parental responsibility’ of the child to open a Junior Cash ISA on their behalf, so any grandparent(s) would need to be the legal guardian of the child. Grandparents can still pay into their grandchild’s Junior Cash ISA, even if they are not the legal guardian.

Junior Saver (2) – Yes, grandparents are able to open this account as a trustee on behalf of a child of any age. Trustees must be close family members such as parents, adult siblings, parent’s siblings (aunts or uncles) or grandparents.

Yes you can. You can open an account for both our Junior Cash ISA (2) and Junior Saver (2) from birth up to age 18.

The main difference between the two accounts is that the Junior Cash ISA is a tax-free savings account and is used as a longer-term saving option. Each year, you can save from £1 up to the annual statutory Junior Cash ISA limit. No withdrawals are allowed, and the account cannot be closed until the child reaches 18 (although transfer to another Junior Cash ISA provider is allowed, after a 45 day notice period or subject to the loss of 45 days’ interest on the total amount transferred).

The Junior Saver is an easy access account, with a maximum balance of £25,000. Up to 12 withdrawals can be made without notice or access charge per year. This account is not tax-free.

Depending on how much access you would like to your children’s savings account will determine the type of account you choose.

Your savings are in safe hands, protected up to a total of £85,000 by the Financial Services Compensation Scheme. This limit is applied to the total of any deposits you have with the following: Family Building Society and National Counties Building Society. Any total deposits you hold above the limit between these brands are unlikely to be covered. 

Learn more about the FSCS

You can apply for both of our Junior Cash ISA (2) and Junior Saver (2) accounts by post or at our Epsom branch. 
All our savings accounts are FSCS protected.fscs_logo
Annual interest (AER gross) Account rate type Minimum opening amount Additional information Monthly interest option? Withdrawal limits Available to new customers?

Junior Cash ISA (2)

4.35% to 4.60%
  • Variable
  • Interest rates depend on balance
  • Open by post or in branch.
No No withdrawals allowed. Account cannot be closed until the account holder reaches age 18. Yes
View full details

Junior Saver (2)

4.25% to 4.50%
  • Variable
  • Interest rates depend on balance
  • Open and manage by post or in branch.
No 12 allowed annually. Yes
View full details

Comparing two savings accounts

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Note that products are subject to additional terms and subject to change. See a product's full details to find out more.

Money guides for children

From learning what money is, to how to save and budget and the different ways of borrowing, our useful guides can help your children or grandchildren learn to handle money with confidence. 

View our guides

Frequently asked questions

Junior Saver - Only one Junior Saver can be opened with us per child. Different trustees cannot open separate Junior Saver accounts with us for the same child.

Junior Cash ISA - A child can only hold one Junior Cash ISA at any one time. 

Yes, both the Junior Cash ISA (2) and Junior Saver (2) have variable interest rates, which may change as per the terms and conditions of the particular account. Further information can be found in ‘Section 14: Interest’ of our General Conditions for our Savings Accounts about when we may make changes to the interest rate and how this will be communicated. 

Our Junior Cash ISA is a tax-free savings account. Your child doesn’t have to pay tax on the interest they earn on their savings. 

For our Junior Cash ISA, when the child reaches 18 the account will automatically transfer into the available issue of our Market Tracker Cash ISA.

Similarly, for our Junior Saver, when the child reaches 18 the account will automatically transfer into the available issue of our Market Tracker Saver.

Further information about these products are available here.