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Future Saver for Children

Start saving for a child’s future

HSBC Future Saver for Children

Give a child a little help later in life than with our Future Saver for Children.
  • Give a child a little help later in life with our Future Saver for Children
    Whether you're a parent, relative or friend, you can save for a child that’s special to you.
  • Open an account for £1
    Put in a lump sum or save a little at a time, starting from just £1.
  • Access the money instantly
    This is an instant access account, so you can take out money whenever you need to, no notice required.

Open an HSBC Future Saver for Children today.

Please read the important product information and check eligibility before you apply.

Key product information

How it works

This account helps you save for a child's future. You can open an account with just £1. You can pay in a lump sum, or set up a standing order to save a set amount each month. It's an instant access account so you can take money out whenever you need to.

What is the interest rate?

Interest is calculated daily and credited to the account monthly.
Interest Rate
All balances 1.75% AER (1.74% Gross)
Interest is calculated daily and credited to the account monthly.
All balances
Interest Rate 1.75% AER (1.74% Gross)

Can HSBC change the interest rate?

Yes, we can change the interest rate on this account in line with the Future Saver for Children Terms and Conditions:

  • if we increase the rate of interest, we'll either tell you personally within 31 days, or within 3 working days provide the details in a notice in the press and on our Rates and Charges notice in branches. We'll also display this information on our website
  • if we reduce the rate of credit interest we'll tell you personally at least two months in advance

What would the estimated balance be after 12 months based on a range of deposits?

Estimated balance:
Initial deposit Future Saver for Children interest rate Balance at the end of 12 months
£1,000 1.75% AER (1.74% Gross) £1,017.50
Estimated balance:
Initial deposit £1,000
Future Saver for Children interest rate 1.75% AER (1.74% Gross)
Balance at the end of 12 months £1,017.50

For the purpose of this calculation, it is assumed:

  • inital deposit of £1,000
  • no further deposits
  • no withdrawals
  • no change to the interest rate during the 12 months

Projection provided for illustrative purposes only and does not take into account individual circumstances.

How do I open and manage my account?


  • you have to be aged 18 or over to open this account on behalf of a child
  • you need to provide identification for the child in the form of a passport, or full birth certificate or adoption certificate
  • if the account is not being opened by the parent/legal guardian e.g. if you are a grandparent then you must obtain address verification from the parent/legal guardian with whom the child lives

Minimum/Maximum Balance:

  • no minimum deposit to open the account
  • there is no maximum balance

How to manage the account

  • once opened you can manage your account via online banking, phone banking, the HSBC Mobile Banking App or in branch

Can I withdraw money?

Yes, you have instant access to your account. You can make as many fee free withdrawals as you like.

Additional Information

  • a 14 day cancellation period applies to this account
  • we do not deduct tax from any interest paid to you


  • AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year
  • gross is the rate of interest if interest were paid and not compounded each year

Rates correct as at 6 September 2023

How to apply

Apply in branch

Visit one of our branches and we'll help you open your account in person. You’ll need to bring identification, proof of address and a recent bank statement.

If you're under 16, both you and your parent/legal guardian will need to be there to open the account. If you're over 16, you don't need an adult with you.

Or, call to book an appointment over the phone

03456 00 61 61

Our lines are now open 7am to 9pm every day.

Additional information

Before applying, please take the time to read the following documents. You may also want to save them for future reference.

Your eligible deposits with HSBC Bank plc are protected up to the limit of your local Compensation Scheme.

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Frequently asked questions

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