Saving for your child

The best time to start saving for a child is today! If you start early and put money aside regularly, large savings may accrue for a child by the time they reach majority. This is how you can create stability and security for your child’s future. Start by sending us a contact request and we will contact you to together make a savings plan for your child.

Easy savings for your child every month

The period of saving for a child usually extends over a number of years, even a decade. In the long term, even small sums add up to a considerable amount from regular monthly saving. 

  • Saving for your child is easy when it is part of your monthly routines.
  • With regular monthly saving, you will benefit from the effect of compound interest and you will receive a return on the return paid on it, i.e. you will be paid interest on the interest you have received. 
  • Saving every month allows you to spread out your investment over time and benefit from market volatility.

The best time to start saving for your child is today! 

Why not think of a child’s future today?

By saving regularly, you can bring security for your child’s adolescence. Savings accrued over a long period, even more than ten years, will enable the child to acquire a driving licence, finance their studies or make a down payment for their first own home, for example.

It is also important for the development of the financial skills of a child or young person that they gain experience of saving. In fact, understanding how saving works is an important financial skill as such. Later on, it will help them in assuming responsibility for their finances. 

Did you know that when you invest responsibly, you can impact the environment, human rights and improvement of working conditions in the long term? This way you will create a more sustainable future for your child.

Options for saving for your child

  • Saving in funds is the easiest option, as our experts will select the investment alternatives within the fund and manage the diversification for you.
  • If you want to make it easy for the grandparents or godparents, for example, to save for your child, they can transfer money as a credit transfer to the investment alternative you have chosen.
  • The equity savings account is intended for anyone interested in investing in shares and it is particularly well suited to saving for a child over a long period of time.
  • The period of saving for a child usually extends over a number of years, even a decade, so an account is not a good option. Inflation will reduce the purchase power of the cash in an account. 

We recommend that you start saving for your child today. We will gift your child 20 euros when you open an account for a child under the age of 6 months and direct your child benefits to the Nordea account. If you start saving regularly in funds for your child in addition to this, the baby gift will amount to 40 euros. Read more about our baby gift.

How do I start?

  1. If your child does not yet have an account or services, you can open services for your child easily online. After that, you can start saving.
  2. Both guardians primarily manage their child’s saving matters together. One of the guardians can also start saving for the child alone if they provide us with a power of attorney from the other guardian (pdf, 169 KB)Opens new window
  3. Call Nordea Customer Service, tel 0200 70 000 (local rates apply), or submit a contact request, and we will make a saving plan for your child.

See our example of how you can save for a child

Lapselle säästämine - omalle lapselle säästämisen graafi

In this example, one of the guardians saves part of the child allowance in a fund that is expected to yield a 4.00% return or in an account on which the interest paid is 0.00%.

Please note!

The value of your gift may amount to 138 euros per month at maximum or total 4,999 euros every three years at maximum. 

Open a bank account and receive a baby gift

When you open an account for your child who is under 6 months old and certain criteria for opening the account are met, we will give your child a gift.

Read more about opening an account and receiving a baby gift

Cashless payments for children

Our daily banking services for children allow your little ones to bank easily and securely.

Read more about banking for children

On the cusp of adulthood

Many things change when a young person turns 18 – also regarding their banking services.

Read more about banking services for people aged 18 or older

Important information about fund saving

The information on this page is meant only to provide general product information and is not to be considered as advice. Please note that historical returns are not a guarantee of future returns. The value of your fund shares can both increase and decrease as a result of the market’s development, and you may not get back all the invested capital.