Halifax & Barclays are offering 3.5 percent interest rate on regular savings for children

While the regular savings are set up by standing order, the bank also says it’s possible to top up the savings by bank transfer, as long as the £100 monthly limit isn’t exceeded.

With this account, money can only be taken out if the account is closed.

Barclays does allow withdrawals on the Children’s Regular Saver, but it can impact the interest rates.

For months with no withdrawals, the account pays 3.50 percent AER/3.45 percent gross per year.

It pays 1.51 percent AER/1.50 percent gross per year for months with withdrawals.


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