KidSave Account

It’s never too soon to start the savings habit and with KidSave it’s easy and fun!


KidSave is an easy access account specially designed for children under 12.

  • Open a KidSave account with as little as £1
  • Interest rates are variable
  • Operate via branch or phone
  • There are no limits on the number of withdrawals you can make
  • Interest is paid in March
  • Interest is paid gross without the deduction of tax
  • No notice period or penalties for withdrawals

View our current interest rates


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Summary Box

You can apply for the Kidsave Account online. Please read the summary box below before proceeding with your application:

Account Name


What is the interest rate?

Account balance

Gross/AER variable



Less than £1


Interest is calculated daily on your closing balance and is paid annually in March or on the next business day.

Can Bank of Ireland UK change the interest rate?

We have the right to change the interest rate on KidSave. The reasons we may change your rate are outlined in Clause 10 of the Personal Savings Terms and Conditions provided prior to account opening. These reasons include reflecting changes to the Bank of England Base Rate or market rates, changes due to legal or regulatory developments, or business reasons.  You can also find a copy of the Terms and Conditions on our website.

If we change your interest rate to your disadvantage, we will give you notice in writing a minimum of 14 days before the change takes effect, as long as you have at least £100 in your account.

What would the estimated balance be after 12 months based on a £1,000 deposit?

These projections are provided for illustrative purposes only and do not take into account a customer’s individual circumstances.

For a deposit of £1,000, the projected balance after 12 months (2.70% interest for 12 months) is £1,027.00.

This projection is based on the assumption that no further deposits or withdrawals are made during the 12 months

How do I open and manage my account?


  • KidSave is available to personal customers under the age of 12 and must be opened in the sole name of the child.

  • Must be a resident in the UK or ROI only.

  • Minimum balance to open the account is £1 and this must be maintained.

  • There is no maximum balance limit.

Opening and managing your account

  • You can open your account online.

  • You can manage your account in branch, by phone or in writing to us.

  • If your account is not funded within 30 days, we may close your account.

  • All KidSave accounts need an adult representative. The account must be opened and operated by the adult representative on behalf of the child. The adult representative can only be the person who holds parental responsibility for the child. Proof of identity and address will be required for both the child and the adult representative.

If you wish to switch in to or out of this account, please enquire in a Bank of Ireland UK branch.

Can I withdraw money?

KidSave offers you the ability to make withdrawals.

  • All withdrawals should be against cleared balances.

  • Withdrawals are free of charge.

  • No notice period or penalties for withdrawals.

You can withdraw or transfer money to/from your account at any Bank of Ireland UK branch.

Additional Information

Interest is paid gross.

You can cancel the account within 14 days of opening and your money will be returned in full with interest.

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