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 the child over time. We will help you get started with saving for your child.

3 reasons to start savings for your child now

  1. 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.
  2. 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. 
  3. 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. Read more about sustainable investingOpens new window.

+ Did you know about the baby gift?

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.

The best time to start saving for your child is now

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.

Get started by answering a few questions

The questions are only available in Finnish, instructions in English found below.

How do I start saving for my child?

  1. If your child does not yet have an account or services, you can open services for your child easily onlineOpens new window. 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. Book a meeting with our expertsOpens new window  or call Nordea Customer Service, tel 0200 70 000 (local rates apply), and we will make a saving plan for your child.

Options for saving for your child

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. Because of that it can be good to consider other options, such as funds.

  • 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.

Long-term fund saving can grow your child's savings over time

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%.

Lapselle säästämine - omalle lapselle säästämisen graafi

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 Nordea services for your child

It’s now also possible to easily open an account for your child online.

Open banking services for your child online

Start saving for your child

When you have opened banking services for your child you can start saving for them.

Book meeting for investment advice