Children need no lessons in how to spend money, but with a Young Saver account they can learn how to save it too.
Yes. We can move the interest rate up or down at any time. Our Terms and Conditions explain when we'll do this.
If we increase the interest rate, we'll make details of the rate change available in branch, on the phone and on our website, within 3 days of the change. If we decrease the interest rate, we'll let you know personally and give you at least 2 months' notice.
Based on a £1,000 deposit, with no deposits or withdrawals made from the account, and variable interest rates remaining the same:
Yes, instant access
(Service charges may apply, see our Banking Charges guide for more information)
Rates and information correct as at 23/08/16.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Gross rate is the contractual rate of interest payable before the deduction of income tax.
View previous rates
Your eligible deposits with TSB are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme.
Your deposits with us are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total
of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank including their share of any joint account, and not to each separate account.
For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the
FSCS website or call the FSCS on 020 77 414 100 or 08006 781 100. Please note only compensation related queries should be directed to the FSCS.
Accounts with TSB Bank plc include accounts in all its divisions and under trading name TSB and TSB Business. An eligible depositor's £85,000 limit relates to the combined amount in all accounts with TSB Bank plc.
How FSCS protects your money for further information.
This account can only be opened by visiting your local branch with proof of
identity for both you and the child. The minimum deposit is £1.
In addition to your own identification, the child’s birth
certificate or passport is also required to open the account.
Visit your local branch with proof of identity and your address and we'll open the account for you.
There are some changes coming to the way you bank with us. As part of this, we’re making our terms and conditions even clearer, which is good news for everyone.
Find out more
Read summary of changes PDF (720KB)
You can find the updated terms and conditions
Visit us in branch and we'll open an account for you.
Find out what to take along
Visit fscs.org.uk to find out more
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