It's never too early to start saving. If you've got a special purchase in mind, or you want to start putting money away for an upcoming holiday or life-changing trip, open a Young Savers account and watch your money grow.
It’s never too early to start saving – and with 1.10% AER* your money will soon grow (rates will change to 0.75% AER* from 07 January 2021).
Whether you’re saving for something special or need some holiday cash, you can take money out of your account.
Put away a lump sum or save a little, regularly – it’s completely up to you.
See how much you could save with a Young Savers Account when you try our new Savings Calculator tool.
We’re up front with our customers about everything. We’ve created this handy summary of our Young Saver Account's key features so you can see the important information from the get-go.
|Interest rate||Minimum balance||Interest paid|
|1.10% AER* until 06 January 2021
0.75% AER* from 07 January 2021
To have a Young Savers account, you need:
Parents, guardians or grandparents can open a Young Savers account for children aged 10 or under. The account will be held in their name on the child’s behalf. Once the child is 11, you can ask us to put the account in their name.
You can apply for an account yourself if you’re aged 11 to 21, but if you’re under 16 you’ll need a parent or guardian to help you.
We promise to give you our best available rate - always. If we launch a new account with the same features but a better rate, we’ll automatically upgrade you to it.
Win prizes, get free lollipops – and save money with the Magic Money 5 for 5 Club.
All you have to do is save loose change in your Metro Bank money box and bring it to a store every month. Our Magic Money Machine counts the coins, and you get a special prize. Plus there’s a £5 bonus after 5 monthly visits.
You can join the Magic Money 5 for 5 Club if you’re under 15 and have a Metro Bank Young Savers Account.
Unlimited access to your money. 1 day's notice may be required to withdraw money from your account.
Since 6 April 2016, you can earn up to £1,000 a year on your savings tax-free if you pay the basic rate of tax, and up to £500 a year if you pay the higher rate of tax. This is called your Personal Savings Allowance.
Interest on your savings is now paid without tax being taken off. The interest from ISAs doesn’t count towards your Personal Savings Allowance.
Download our PDF to read when you like - it contains all the ins and outs of our Young Savers.
If you’re 16 years old or older, you can take out any amount, but you’ll need to give us 1 day's notice if you want to withdraw more than £1,000. If you’re under 16 you can take out up to £100 a day.
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From savings and current accounts to financial education in schools, there's plenty for the next generation at Metro Bank.
Switching your current account to Metro Bank is simple and hassle-free. And we guarantee to have it all done and dusted for you in 7 days.
With our same-day account opening, you can apply in store and we'll print your card there and then. Having the right documents will help make the process go smoothly.
Your eligible deposits with Metro Bank are protected by the FSCS.