Help your grandchild save for their first milestone

Give a child you care about the best possible financial start in life.

  • Plans with guaranteed* amounts
  • Save for university, a house deposit or first car
  • Monthly, annual and lump sum plans available

Get an M&S or Love2Shop gift card

Quote GRAND23 when applying for a new policy to receive a £25 gift card after your new policy starts. Terms and conditions apply

Gift card promotion T&CS

Request an information pack

For more information on our savings products, please fill in your details below and we will send you out your information pack of choice. Sheffield Mutual will never sell your personal data to any third parties. We would, however, like to keep you up to date with Society news, offers, competitions and other products and services that we offer. We use MailChimp for our marketing/service emails. You can update your contact preferences easily at any time by phone, email, in writing or online.

Or enter address manually


Please read the product information and Key Information Document before applying.

Children's Tax Exempt Savings Plan

Only available through friendly societies (like us) and a great way to save tax-free*** for a child you care about

  • Plans start from £5 a month
  • Sum assured guaranteed amount on maturity
  • Save for university, a house deposit or a first car
  • Possible annual and final bonuses
  • Choose how long to save between 10 and 25 years
Find out more

Risks you should be aware of

  • If you surrender the plan before the end of the selected term, you are likely to get back less than you have paid in
  • Bonuses are not guaranteed to be paid and depend on the performance of the Society's with-profits fund.
  • Tax treatment depends on individual circumstances and may be subject to change in the future.
  • On maturity or surrender the payment is made to the child as the beneficiary of the policy.
  • Charges cover the cost of expenses incurred in setting up and maintaining policies.
    Charges differ per product, please refer to the product literature for further and up to date information.

Children's Regular Savings Plan

A simple and affordable way to save for a child you care about

  • Possible annual and final bonuses
  • Sum assured guaranteed amount on maturity
  • Monthly plans from just £5
  • Consider for regular savings in addition to the tax-exempt savings plan
  • Anyone can start a plan
Find out more

Risks you should be aware of

  • If you surrender the plan before the end of the selected term, you are likely to get back less than you have paid in
  • Bonuses are not guaranteed to be paid and depend on the performance of the Society's with-profits fund.
  • Tax treatment depends on individual circumstances and may be subject to change in the future.
  • On maturity or surrender the payment is made to the child as the beneficiary of the policy.
  • Charges cover the cost of expenses incurred in setting up and maintaining policies.
    Charges differ per product, please refer to the product literature for further and up to date information.

Children's Investment Bond

Invest in their future with this medium to long-term plan

  • Invest a lump sum between £1,000 - £150,000
  • Guaranteed minimum return of your original investment plus 5% after five years
  • Possible annual and final bonuses
  • Higher potential returns than a bank or building society
Find out more

Risks you should be aware of

  • If you surrender in the first five years a surrender penalty will apply, meaning you might get back less than you invested. 
  • Bonuses are not guaranteed to be paid and depend on the performance of the Society’s with-profits fund.
  • Tax treatment depends on individual circumstances and may be subject to change in the future.
  • On maturity or surrender the payment is made to the child as the beneficiary of the policy.
  • Charges cover the cost of expenses incurred in setting up and maintaining policies.
    Charges differ per product, please refer to the product literature for further and up to date information.

Capital Plan

Invest a lump sum of £2,500 and we will use it to make payments into our Tax Exempt Savings Plan for the next ten years.

  • A guaranteed minimum interest rate on the Mansfield plan of 2.20% Gross/AER
  • Guaranteed minimum return on the Tax Exempt Savings Plan plus possible bonuses
  • Plan is offered in conjunction with Mansfield Building Society
  • A fixed ten year plan, with potential to earn bonuses and interest
Find out more

Risks you should be aware of

  • If you surrender the plan before the end of the selected term, you are likely to get back less than you have paid in.
  • Bonuses are not guaranteed to be paid and depend on the performance of the Society’s with-profits fund.
  • Tax treatment depends on individual circumstances and may be subject to change in the future. 
  • On maturity or surrender the payment is made to the child as the beneficiary of the policy.
  • Charges cover the cost of expenses incurred in setting up and maintaining policies.
    Charges differ per product, please refer to the product literature for further and up to date information.

Why choose Sheffield Mutual

Trusted, fair & ethical

We do not invest knowingly or directly in industries relating to armaments, tobacco, gambling or pornography

About us

FSCS protected

We are part of the Financial Services Compensation Scheme.

Visit FSCS

Dedicated team

Experienced and knowledgeable, our team is made up of professionals from a range of backgrounds and industries

Meet the team

Let's keep in touch

Keep up to date with news, offers, competitions and other products and services that we offer via email

Please only include first and last name