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Free, instant access savings account for children 16 and under
Open this account with just £1
Access funds instantly, if you need them
Hold the account in trust for a child or in the child’s own name if they’re over 7
Get a free pigbybank and access to Pigby's World of savings tips
Account name: First Saver
Yes, this rate is variable. It may be changed for any of the reasons set out in Term 9.2 of the Savings Account Terms (PDF, 281 KB), e.g. to take account of Bank of England base rate changes or changes in the rates paid by other banks. If the rate is going down we’ll give you at least 60 days’ notice. If it is going up, we’ll inform you before the change or shortly afterwards. Term 9.2 (PDF, 281 KB) contains details of the notice we’ll give you.
AER: This is a notional rate used for interest bearing accounts which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross: The interest rate you are paid without the deduction of UK income tax.
p.a.: per annum (per year).
Before you start your application we need to check a few things.
Open a First Saver account and your child will receive their very own free Pigbybank to help them start saving.
For non-First Saver customers, buy your own Pigbybank for £10 and have it delivered straight to your door.
Pigbybanks are subject to availability and are only suitable for children 3+.
Our First Saver account is designed to teach children how to save and Pigby and his friends are here to make it fun along the way.
Visit Pigby World to find out more about Pigby and his friends, download our Savings Workbook and play Pigby's Tales - our latest interactive adventure for Pigby.
You can also set up your own stall and learn how to save with the Pigby's Fair app.
Your eligible deposits with Royal Bank of Scotland are protected up to a total of £85,000, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
Find out more about the scheme and how it protects your money.