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Young savers account

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.

Build your future

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).

Easy access to money

Whether you’re saving for something special or need some holiday cash, you can take money out of your account. 

Choose how to save

Put away a lump sum or save a little, regularly – it’s completely up to you.

See all the ways you can save

See how much you could save with a Young Savers Account when you try our new Savings Calculator tool.

Open an account

Come and see us in store

The Nuts and Bolts

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

£1 Monthly

*AER stands for annual equivalent rate. It shows how much the interest rate would be if the interest was worked out once a year. You can use it to compare different financial products.


To have a Young Savers account, you need:

  • To be aged 21 and under
  • To be resident in the UK. You’ll also need to provide proof of your identity and address. If you’re not a UK, EU, EEA or Swiss national you’ll need a valid visa/residence permit. Here’s a list of what 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.

Our Savings Promise

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.

Magic Money 5 for 5 Club

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.

Withdrawals and notice periods

Unlimited access to your money. 1 day's notice may be required to withdraw money from your account.

Your savings and tax

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.

Get all the details to read at your leisure

Download our PDF to read when you like - it contains all the ins and outs of our Young Savers.

Young Savers Account Details (PDF)(896KB)

Our Service Relationship with Personal Customers (PDF)(1.2MB)

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  • Can I take money out of my Young Savers Account whenever I want to?

    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.

  • How do I open a Young Savers Account?

    To open an account, just pop into a store. We’re open all day and at weekends too. 

    Here’s a list of what you should bring with you

  • Where can I find the rate for my Metro Bank account that’s now closed to new savers?

    You can find the rates for any closed account set out in Rates for Closed Products.

Your ways to bank


Metro Bank 24/7. Check balances, make payments, see transactions and open new accounts any time - all with internet banking.


Control your money on the move with our mobile banking app. Check balances, move money, make payments and more wherever you are.


A friendly face and a quick answer. And all the usual payment services too. We're open 362 days a year

By phone

Talk to a real person in our always-open UK contact centre, 24 hours a day, 7 days a week, 365 days a year.

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Kids Zone

From savings and current accounts to financial education in schools, there's plenty for the next generation at Metro Bank. 

Switching to us

7-day Switch Guarantee

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.

Banking with us

What I need to open an account

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.


Protecting your money

Your eligible deposits with Metro Bank are protected by the FSCS.