Children's Savings

Start saving for their future with our Future Fund account.

Open on behalf of your child or let them apply in their own name if they’re aged 7 or above.

If your Child Trust Fund is maturing

The first Child Trust Funds matured in September 2020. Find out what you can expect from us and what you need to do.

Find out about Child Trust Fund

Future Fund


gross / AER variable

Ideal if you want to save for your child's future

Key features

  • Start saving with £1
  • Instant access
  • Earn a variable rate of interest, paid annually
  • Unlimited withdrawals and deposits
  • Manage online, by mobile, over the phone or in branch
  • Opt into paperless statements

Important to know

  • Apply on behalf of a child aged under 18
  • Children aged 7 and above can apply in their own name

Understanding savings accounts

Tools and practical guides to help you start saving.

Savings accounts explained

Find out how savings accounts work and how to earn more interest

How savings accounts work

Personal Savings Allowance

Find out about the Personal Savings Allowance and how it affects you

Learn about the Personal Savings Allowance

Why choose The Co-operative Bank

Born from the co-operative movement in 1872, we’re proud to be the only UK high street bank with a customer-led Ethical Policy.

Our customers know their money will be kept safe and not be used in a way that conflicts with their values and ethics.

Learn more about what makes us ethical

Savings terms explained

AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.

Business day is usually Monday to Friday excluding bank holidays.

Calendar month means from midnight on the first day of a month to 11.59:59pm on the last day of the month.

Fixed interest means the rate stays the same until the account matures.

Gross is the rate of interest payable before any tax is taken off.

Tax-free means you will not pay any tax on your interest.

Tax year runs from 6 April to 5 April.

Variable interest means that it could go up or down.

Please note: any reference to tax is based on our understanding of current tax regulations which may change in the future and depend on the customer's individual financial circumstances.

The Co-operative Bank reserves the right to decline or accept any application and/or deposit.

Financial Services Compensation Scheme

Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with The Co-operative Bank and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please read further information on the FSCS scheme here or visit their website.

Not found what you're looking for?

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