For people who want to save for their child’s future.
Open on behalf of your child or let them apply in their own name if they’re aged 7 or above.
gross / AER variable
gross / AER variable
Interest is calculated daily and paid annually on 5 April
Yes. The interest rate is variable, which means that it could go up or down.
If we increase the rate, we’ll apply the higher rate immediately and we’ll tell you about the change within 30 days.
If we decrease the rate, we’ll give you 2 month’s notice of the change.
For more details about when and how we might change the rate, see the 'Changes' section of our Savings General Terms and Conditions (PDF)
This calculation is for illustrative purposes only and assumes:
To open an account you must be a UK resident aged under 18. If you are a child aged under 7 you will need an adult to open this account on your behalf.
If a person is opening an account on your behalf they must be a UK resident aged 18 years or above.
You can only have one account in your own name. A person opening an account on your behalf may open 1 account for you, and up to 9 accounts for other children.
Once the account has been transferred into your name, the person who opened the account will no longer have access.
To order an application form call 03457 212 212. Lines are open 8am to 6pm Monday to Friday, 9am - 5pm Saturday & Sunday. Call charges
There is a minimum opening balance of £1 to be paid within 30 days of opening the account.
If the minimum amount of £1 isn’t paid within 30 days we may close the account.
There is a maximum balance of £1,000,000
Yes. You can make as many withdrawals as you like.
You can withdraw money:
If you are or have previously been made bankrupt, you can still apply.
Interest earned from this account will count towards your Personal Savings Allowance. You may need to pay tax to HM Revenue & Customs if the total interest you earn is greater than your Personal Savings Allowance. Visit the Government’s website for more information on this and interest on savings for children.
A child must:
If an adult is opening an account on your behalf they must be a UK resident aged 18 years or above.
If you are a child aged under 7, an adult will need to open this account on your behalf.
Please read these important documents↓ and save them for future reference.
Call for a Future Fund application form on
03457 212 212
8am to 6pm Monday to Friday, 9am to 5pm Saturday & Sunday
Find your nearest branch
Please read the important documents below and save copies of them for future reference.
AER stands for Annual Equivalent Rate and shows what the interest rate would be if it were paid and added to your account each year.
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.
Business day is usually Monday to Friday excluding bank holidays.
Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on the customer's individual financial circumstances.
The Co-operative Bank reserves the right to decline to accept any application and/or deposit.
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 following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
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