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Featured - Account Types
What type of savings account do you need?Find out about the different types of savings accounts available to suit a variety of needs.
Savings
ISAs
Residential
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - travel insurance
Travel insurance 2024Discover the best travel insurance policy for your next trip.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
The FlexOne Saver is available to children between the ages of 11 and 17 who hold a FlexOne current account.
In a bid to foster healthy savings habits among children, Nationwide BS launched a brand-new easy access savings account yesterday, with a competitive rate of 5.00% AER.
“Our FlexOne Saver provides young people with a place for their savings, offering a competitive interest rate and with no restrictions on withdrawals,” said Tom Riley, Nationwide’s Director of Retail Products.
Riley went on to say this latest addition “will also ensure that our youth current account remains one of the most compelling accounts available”.
Last updated: 20/12/2023
Account: FlexOne Saver
Notice: None
Rate: 5.00% AER
The FlexOne Saver can be applied for in branch by or on behalf of children aged between 11 and 17. Alternatively, those aged 13 to 17 can open the account online or using the Nationwide BS mobile banking app.
While no minimum deposit is required to open this account, interest is paid on anniversary on balances between £1 and £5,000.
However, in order to apply, your child will need to open a FlexOne current account from Nationwide BS if they don’t already hold one. Once again, a parent or guardian can apply for this account on behalf of a child.
It can be managed online, in branch or by app until the child turns 23, at which point it reverts into an instant access savings account where the relevant rate and conditions apply.
This easy access account permits an unlimited number of penalty-free withdrawals at any time.
Coventry BS offers the best rate when it comes to children’s easy access savings accounts with its Young Saver paying 5.25% AER monthly on deposits between £1 and £5,000.
Paying 5.00% AER, the FlexOne Saver from Nationwide BS takes a competitive position within the market, alongside accounts from HSBC.
Our savings charts are updated regularly throughout the day to bring you the latest top rates across easy access, fixed bond and notice account markets. You can visit our dedicated children’s savings chart here.
Alongside the launch of a new account, Nationwide BS customers who hold a FlexOne Regular Saver will have seen this rate increase to 5.00% AER as of yesterday.
However, as this account is currently off-sale, if you’re looking for a regular savings account you’ll need to consider alternative options.
Another account from Nationwide BS leads the regular savings market. Its Flex Regular Saver Issue 2 allows deposits of up to £200 a month and pays 8.00% AER on anniversary if no more than three withdrawals are made in a year. This account can be applied for online or by mobile banking app by savers aged 16 or over.
More information on this, and other accounts available, can be found in our charts.
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Flexible savings rates from the big banks continue to lag behind the market-leading accounts. However, their fixed bonds are more competitive.
Flexible savings rates from the big banks continue to lag behind the market-leading accounts.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best savings rates available in the UK. Compare and apply today.
Big banks continue to offer low returns on easy access accounts, while paying higher returns on fixed bonds.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a re-launched 60-day notice ISA from The Stafford Building Society, and a two-year fixed rate mortgage from NatWest.
Flexible savings rates from the big banks continue to lag behind the market-leading accounts. However, their fixed bonds are more competitive.
Flexible savings rates from the big banks continue to lag behind the market-leading accounts.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best savings rates available in the UK. Compare and apply today.
Big banks continue to offer low returns on easy access accounts, while paying higher returns on fixed bonds.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a re-launched 60-day notice ISA from The Stafford Building Society, and a two-year fixed rate mortgage from NatWest.
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.