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 to help teach the importance of savings to 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 annually at the end of March, or the next business day
  • Interest is paid gross without the deduction of tax
  • No notice period or penalties for withdrawals

View our current interest rates


Apply now

Summary Box

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

Account Name KidSave
What is the interest rate?
Account balance Gross/AER variable
£1+ 2.50%
Less than £1 0.00%

Interest is calculated daily on your closing balance and is paid annually at the end of 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 (2.50% interest for 12 months) is £1,025.00.

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? Eligibility

  • KidSave is available to personal customers under the age of 12 and must be opened in the sole name of the child.
  • 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 and in branch.
  • 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.
  • An account opened in the name of a child under seven must be opened and operated by an adult representative.  Once the child attains the age of seven, the account may be operated by the child or by the adult representative on behalf of the child until the child reaches the age of 12, at which point only the child can operate the account.

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.

Save and print Apply online