Saving with the Cambridge
First Account

Our First Account for everyone under 21 is designed to help young people get into the saving habit for life.

Key Features

  • A special high interest account for young savers up to age 21.
  • You only need £1 to open the account and you can save up to £10,000.
  • Pay money in when you want and take out cleared funds from your account at any of our branches, twice a month, without interest penalty. Cash withdrawals are limited to £100 for under 18s.
  • You can draw your account down to just £1. 
  • We calculate interest on the balance of your account at the end of each day and pay you interest annually on 31st December.
  • Interest rates are variable and may change from time to time.
  • For children under the age of 10, the account must be controlled by an adult. 
  • We provide you with a passbook to help you keep track of your savings and interest.