Apply for this savings account using the method below.
Young Savers.
Interest is variable, calculated on a daily basis and is paid annually on 31 August.
| Young Savers | Current Rates |
|---|---|
| Annual Interest | Rates effective from: 01/02/2026 |
| Balance | Gross | AER† |
|---|---|---|
| £10.00 and above | 1.40% | 1.40% |
†Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and added each year, and has been rounded to two decimal places.
As the interest rate is variable, we may change the rate if we reasonably believe that the change is needed. If we reduce the interest on your account, we will write to you 14 days before we make the change. For full details on how and why we will change the interest rate on your account, please refer to Section 8 of the Savings Terms and Conditions.
Based on the current interest rate, if you deposited £1,000 in this account, after 12 months you would have £1,014.00. This figure is for illustration purposes and is based on no additional deposits, withdrawals or changes in interest rates within the 12 month period.
To open an account you must be permanently resident in the UK. If you are between 7 and 17 years you can open and operate the account in your sole name.
The maximum age for holding this account is 25.
Alternatively, a parent, guardian or relative can open an account, and as trustee, will operate the account on your behalf. Simply call into your local branch and complete an application form. You will need to provide some identification when you open your account, details of our requirements can be obtained from the “before you apply section” on this page, your local branch or by calling us. If you are already a Hanley Member, in most cases, this will not be necessary.
This account is intended solely for the child’s benefit, and all funds deposited legally belong to the child. The trustee is responsible for managing the account in the child's best interests and withdrawals must be made for the benefit of the child.
Minimum investment is £10 – maximum investment £50,000. You can add to your account at any time subject to the maximum investment limit.
Once the account has been opened it can be managed either in branch and/or via the post.
You can withdraw without notice or penalty up to £500 in cash and £70,000 by cheque on demand from our branches or by sending us your written instructions.
Larger cash sums up to £5,000 are available by giving at least 24 hours notice. Cheque withdrawals over £70,000 can be obtained from our Registered Office. Following any withdrawals £10 should remain in the account.
To withdraw money in a branch, you must provide your passbook. If making a withdrawal through the post, you must send your passbook along with signed written instructions.
UK residents only.
The treatment of your account for tax purposes will depend on your individual circumstances and you may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information, please visit HM Revenue & Customs’ (HMRC) website: hmrc.gov.uk . The tax information provided is based on our understanding of current law and HMRC practice, both of which may change.
Yes if
You want to open the account with £10.
You are happy that the interest rate may change at any time.
You are a parent, guardian or relative and want to operate the account until the child is 17.
You want to open and manage your account in branch or via the post.
No if
You want a fixed rate of interest for a fixed term.
You want to open and manage your account online.
Before opening an account, it is recommended you read the information below.
Find your nearest branch and visit for expert support and assistance from our team during the application process.