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BEST FOR

Parents building future savings

  • Competitive interest growth

  • Zero maintenance fees

  • Flexible saving options

  • Simple deposits and withdrawals

Maximum benefits from child savings

  • NO MAINTENANCE FEES

    Zero Maintenance Fees with no hidden fees or monthly charges, allowing your child's savings to grow uninterrupted

  • ONE-APP ACCESS

    Manage your child’s savings conveniently in one place with full visibility

  • STRONG INTEREST GROWTH

    Competitive interest rates are calculated daily and paid quarterly to boost savings steadily

  • FLEXIBLE SAVING OPTIONS

    Add funds anytime to keep up with your child’s changing financial goals

  • EASY WITHDRAWALS

    Access funds anytime with no penalty, easy withdrawals

  • EASY PARENTAL CONTROL

    Parents or guardians can manage deposits and withdrawals easily via online or mobile app

Things you should know

  • Account requirement

    UK Personal Current Account

  • Child documents

    Passport and birth certificate

  • Access options

    Manage online or in-branch

  • Interest rates

    Click here to view the Interest Rates

About

General information

The Child Savings Account is an account which consists of the below following accounts linked to a UK Personal Current Account:

  • Savings Account
  • Fixed Deposit (Non-Withdrawable)
  • Fixed Deposit (Withdrawable)

How to apply?

  • Visit any one of the ICICI Bank UK plc branches.
  • Call our Customer Service Centre on 0344 412 4444 (Calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls).

Withdrawing your money

  • Withdrawals can only be made to the linked ICICI Bank UK Personal Current Account.
  • Withdrawals can be requested online and through a branch.
  • No restrictions on the number of withdrawals made.
  • No notice period required for withdrawals.
  • No penalty on withdrawals.

Additional information

Parent/Guardian will continue to hold the Savings Account on trust for the child. The Bank will send customer information needed to know before the change and will take it as having agreed to the new account conditions. Upon reaching 18 years, the account will be frozen. The Bank will contact the minor three months in advance of the 18th birthday, in case the customer (child) wants to have an account of their own.

About us

ICICI Bank UK plc has its registered office at One Thomas More Square, London E1W 1YN. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268). It is subject to the laws of England and Wales. It is registered in England and Wales as a public limited company (Registration Number 04663024)

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Bank is unable to meet its financial obligations. Most depositors, including most individuals and businesses, are covered by the scheme.

In respect of deposits, from 1st December 2025, an eligible depositor is entitled to claim up to £120,000. For joint accounts, each account holder is treated as having a claim in respect of their share, so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £120,000 each (making a total of £240,000). The £120,000 limit relates to the combined amount in all the eligible depositors' accounts with us, including their share of any joint account, and not to each separate account.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim), please ask at your local branch, refer to the FSCS website www.fscs.org.uk, or call the FSCS on 0800 678 1100 or 020 7741 4100. Please note that only compensation-related queries should be directed to the FSCS.

Read our FAQs and Terms and Conditions for complete information.

Please Note: Parents or Legal Guardian should hold a UK Personal Current Account prerequisite to open a Child Savings Account.

FAQs

What is a Child Savings Account?

A Child Savings Account is an account opened and managed by a parent or legal guardian for a child. It’s designed to help build long-term savings while teaching good financial habits.

Who is eligible for a Child Savings Account?

This product is available exclusively to customers holding a UK Personal Current Account.

Either the parent or a legal guardian can open a child's account.

Who will be the account owner?

The Savings Accounts will be opened in the child's name and tagged as a Minor Account. The account will be linked to the parent/guardian's Current Account.

What are the Interest Rate Norms?

Interest is calculated daily based on your balance and paid monthly into your Savings Accounts. Payments are made on the last working day, using a 365-day year for sterling and the standard monthly interest rate.

What would the estimated balance be after 12 months based on a £1000 deposit?

For £1000 invested for 12 months at interest rate of 1.75% (AER), you'll earn approximately £17.5 interest (gross). This is applicable when amount is invested for complete year and the interest is not withdrawn from the account.

Can ICICI Bank UK plc change the interest rate?

ICICI Bank UK plc has the right to change the rate of interest.

  • ICICI Bank UK plc will keep you informed about changes in the interest rates on your Account/s by sending you a personal notice within 30 days of the change
  • If ICICI Bank UK plc reduces the interest rate to your disadvantage, you will be given 30 days' prior notice and if you wish, we will close your Account or help you switch your Account to a Bank of your choice
  • Read the T&C for complete information