The new feature, powered by ClearBank, offers 3.5% interest on a free standard account, growing to 4.5% for the top rate Ultra premium account.
The move comes after Revolut rival Monzo announced the introduction of instant access savings pots for its under-16 current account paying a 3% AER interest rate.
On the Revolut launch, Carlo Spada, head of youth products, says: “At Revolut, we believe that a strong foundation in financial literacy starts early. Our new Instant Access Savings account for kids and teens is designed to be more than just a savings tool – it’s a hands-on lesson in how money can grow.”
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