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April 16 2018

Halifax launches new kids’ savings accounts

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  • New accounts available online, in branch or by phone
  • Kids’ Monthly Saver launched at market-leading 4.5% interest

Halifax is launching two new savings accounts for children. The Halifax Kids’ Saver and the Kids’ Monthly Saver offer easy multi-channel access and management for parents, as well as competitive rates.

The Kids’ Monthly Saver allows parents and relatives to save between £10 and £100 a month for their children, at a market-leading interest rate of 4.5% AER (fixed). The Kids’ Saver offers a variable rate of 2.0% AER on balances up to £5,000.

The new accounts can be opened online as well as in branch, and can be serviced online, over the phone and in branch.

Giles Martin, Head of Halifax Savings, said: “Feedback from parents showed that they wanted to be able to open a savings account for their children quickly and easily, with competitive rates, but they also wanted the flexibility and peace of mind of managing it online.

“Opening a savings account is a great opportunity for parents to help their kids understand about money, and to get them into the savings habit from an early age.”

The Halifax Kids’ Saver will replace the Halifax Young Saver, and the Kids’ Monthly Saver will replace the Kids’ Regular Saver account.

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