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Young Saver

A Young Saver account is a great way to help your children learn the importance of saving, without needing to lock the money away until they’re 16.

Benefits of a Young Saver

Earn up to 3.15% AER

Earn 3.11% Gross/ 3.15% AER (variable) from £1 - £19,999, then 1.19% Gross/ 1.20% AER (variable) on anything over.

Instant access

You can pay in or withdraw whenever you want to, without having to pay any fees or charges. 

Stay in control

You’ll be in full control of your child’s savings until they turn 16, then choose to give them control or keep managing it.

You, as the adult, must have a TSB current account to open a Young Saver. One Young Saver account can be opened per child.


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Open a Young Saver

What you need to know

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The child doesn’t need to be there to open a Young Saver either over a video call or in branch

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The minimum deposit for each Young Saver is £1

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You can only open one Young Saver per child

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To open the account you must be 18 or over, a UK resident, and a TSB current account holder

If applying by video call

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The parent’s last name needs to be the same as the child’s. Or their name needs to be on the child’s birth certificate, which you’ll need for the appointment

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The legal guardian will need to show proof of guardianship on the call

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We’ll need to see the adult’s passport or driving licence and a valid passport for the child, or a birth certificate if their passport has expired

Not the parent or guardian?

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You can open a Young Saver for a child you’re not related to in branch

Ready to apply?

Book a video call

Apply from anywhere with your email and reliable Wi-Fi

Apply from anywhere with your email and reliable Wi-Fi

Choose a time and date that works for you including evenings and weekends

Choose a time and date that works for you including evenings and weekends

It typically takes 60-90 minutes to open a Young Saver

It typically takes 60-90 minutes to open a Young Saver

You’ll need your ID ready on the call

You’ll need your ID ready on the call

Ready to apply?

Or apply in branch

Book an appointment at your chosen  branch to get started

Book an appointment at your chosen branch to get started

Don’t forget to bring ID for both the adult and child. And if the child is under 16, a parent or guardian will need to be there to help open the account

Don’t forget to bring ID for both the adult and child. And if the child is under 16, a parent or guardian will need to be there to help open the account

We use Adobe Sign for this kind of request. Adobe will pass the information you provide to us in a secure manner and won’t process it in any other way. Information on how we use your data can be found in our Data Privacy Notice.

Important information



Any questions?

Financial Services Compensation Scheme


The Financial Services Compensation Scheme (FSCS) protects up to £85,000 of your eligible money at TSB. For more information, please visit the FSCS website. 

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Important Information

*Variable means the interest rate on your savings can change. The rate can go up and down. If it goes up, you earn more interest. If it goes down, you’ll earn less interest, but we’ll tell you before this happens. If you’d like to know more about what might happen to our variable interest rates when the Bank of England changes the Base Rate, head over to our Popular Questions page at www.tsb.co.uk/savings/

The Annual Equivalent Rate (AER) shows what the interest would be if the interest was paid and added to the account once each year. It lets you compare savings accounts easily. Gross rate means that credit interest is paid without income tax being deducted. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

You need to be 16+ and UK resident to open most of our savings accounts with the exception of Savings Pots and TSB ISAs. For children under 16 please see specific pages for opening procedures.