New regular saver account for children

The Society has launched a new account for children, aimed at encouraging regular saving to achieve something special by offering a higher interest rate – perhaps for a young person’s first car, university, or something else worth saving for over the long term.

Our new Children’s Regular Saver is an attractive alternative to an easy access account, with a higher rate yet with the flexibility of being able to save a varying amount month to month and with no requirement to make a deposit every month.

The account can be opened and operated in a child’s name on their behalf by a nominee – a parent, relative, or guardian. Alternatively, if a child is aged 13 or over but under 18, they can open and operate the account themselves.

Up to £250 can be deposited each month, but if the saver chooses to save less than that in any month the difference does not roll over – £250 is the monthly limit.

Announcing the new account, Melanie Aspden, Savings Product Manager, said:

“Hinckley & Rugby Building Society has been a cornerstone of support for savers for 160 years, and this innovative product aims to help children build a fund for their future. It is designed to help the young saver achieve a specific goal through regular saving.”

Account details*

Account name: Children’s Regular Saver
Interest rate: 4.25% variable Gross / AER
Minimum investment: £1
Maximum monthly: £250
Withdrawals: Only on account closure

Melanie added: “The special thing about this account is the attractive reward it offers for building a meaningful savings pot for the future.

“We aim to be a mutual organisation that truly reflects its members’ aims and values in today’s world, offering attractive rates, traditional personal service, and the flexibility that comes from saving with a modern building society.”

To view our range of Children’s savings account, please visit this page.

^{*Account details correct at the time of publishing.}