When and how should you start saving for your child?

You can start saving for your child anytime – as soon as they’re born if you like. When you save for a child, the period is often quite long, maybe even decades. Because of this one good option to consider is investing in funds: over a long period of time, funds will often earn you more than keeping the money in a regular bank account.

You can invest in funds either directly or through unit-linked insurance

  • Investing in funds is effortless: a professional portfolio manager looks after the fund without you having to spend time monitoring the markets. If you conclude a monthly savings agreement with us, we will transfer the agreed amount from the selected account to the selected funds for your child each month. When trying to determine a suitable amount, remember that you can get started with just 10 euros a month. You can easily change the monthly contribution later or invest additional lump sums in your child’s fund in Nordea Mobile or Netbank. 
  • A unit-linked insurance policy may be a good option if you prefer to keep a close eye on fund performance. When your child grows and the world changes, you can switch investments within the policy without needing to report the switches in your child’s tax return. Taxes will only become payable once you withdraw savings for your child’s use. It’s also possible for any loved ones, such as grandparents or godparents, to participate in building up the savings under a unit-linked insurance policy. All policyholders who are under 30 years old will get a 50% discount on the management fee of their unit-linked insurance policy for savings up to 100,000 euros.

Read more about fund investments for children

Book a meeting for investment advice – we’ll help you get started!

At the meeting, you can discuss different alternatives and start saving and investing for your child. The meeting won’t cost or commit you to anything.

Have you already opened an account for your child with us? If you haven’t set up any of our services for your child yet, please do so before the meeting.

How to start saving for your child

  1. If your child doesn’t yet have an account with us, please open one before meeting with us for investment advice.
  2. Does your child have other guardians? As a rule, guardians manage their child’s banking together. With a power of attorney, one guardian can also manage a child’s banking alone.
  3. Book a meeting with us for investment advice. It’s completely free of charge and can be arranged either in-branch or online. At the meeting, which will take about an hour, we will discuss saving for your child and investing the savings and help you choose the options that will suit you the best. You will not commit to anything by meeting with us.

Read further instructions, download power of attorney template, and book a meeting

Do you want to open a savings account for your child?

When you set up banking services for your child, you can also open a PerkAccount for them. It’s an account that is a good fit for saving in the short term. If you are planning to continue saving for a period of time spanning over many years, you should consider investment funds as an option. If you book a meeting with one of our experts, we will help you choose the options that suit you and your child the best.

Interested in equity investments?

If you monitor the markets actively and are interested in equity investments, one good option for investing your child’s savings is the equity savings account. If you choose this option, remember that the law requires you to invest your child’s money safely with sufficient diversification, for example.

Account holders who are under 30 years old will always get the equity savings account without the custody fee.

Read about equity savings accounts

Frequently asked questions about saving for a child

Important information about investing

The information provided on this website is intended as general product information only and does not constitute investment advice or recommendations. When it comes to funds or equities, past performance is not a guarantee of future results. The value of fund units or equities may increase or decrease due to market movements, and it is not certain that you will get back the entire amount you invested.