Best Piggy Banks for Kids
Teaching your growing kids about the value of savings prepares them to take financially sound decisions in their future. It makes them understand the value of money.
By inculcating the virtues of savings in your kids and raising them to be thrifty, they become smarter in handling their finances and avoid extravagant expenses. There is no better way to introduce your kids to the world of currency and finances than buying them a piggy bank.
A piggy bank encourages your kids to make savings and learn how the smaller amounts of money added to a piggy bank periodically result in the accumulation of a big sum over a period of time.
Here you will read about the Best piggy banks for kids, FAQs, types of piggy banks for kids and Buying guide.
Best Piggy Banks for Kids in India
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Piggy Banks for Kids – Safety Tips
Placement
You must place the piggy banks in a safe place in your child’s room. This is especially true for one-time use piggy banks as they cannot be repaired if they fall and break open.
Some of the more intricate electronic piggy banks may also cease to function after a fall.
Cleanliness
Used coins are dirty and have microorganisms that can harm your child. It might be wise to wash the coins first before allowing your child to insert them into the piggy bank.
If your child is old enough to wash his/her own hands, then teach him/her to wash the hand used to handle the coin.
Use as a Toy
While your child should be encouraged to interact with the piggy bank, him/her needs to know the difference between it and a toy.
While piggy banks are shaped like toys, they generally cannot take the same kind of harassment a toy in a toddler’s hands can.
Handle with Care
When piggy banks are full, they can be quite heavy. Your child should be taught how to handle a full piggy bank with care as it can cause some damage if it drops.
There’s a good possibility your son or daughter’s foot will be bruised if a full piggy bank is dropped on it.
Types of Piggy Banks for Kids
One Time Use Piggy Banks
These piggy banks are designed to be used only once. The child can keep putting coins into the piggy bank until it is full.
The piggy bank then has to be smashed on a hard surface to withdraw the coins inserted into it. Clay piggy banks are especially fun when engaging in this kind of saving activity.
Lock and Key Piggy Banks
These kinds of piggy banks are some of the most durable in the market. They don’t require any special electronics to function, and they can be used repeatedly.
Some units actually come with their special locks, but others need you to make an additional lock. It’s convenient to withdraw the amount of money you want when you feel the need for it. This is a great way to teach your child how to save.
Electronic Password Protected Piggy Banks
These are the most modern of the piggy banks and have the most bells and whistles. Many of these piggy banks have many lights and sounds that play when you insert coins that give immediate positive feedback to your child.
They also allow you to control when money is withdrawn from the piggy bank as you have the password for it. Your child is also learning how to withdraw money from an ATM as the process is almost similar to the one used here.
Piggy Banks for Kids – Buying Guide
Slit
Ensure that the piggy bank you buy has a sufficiently big slit to allow for your country’s currency. Some clits can be too small for a thick coin to fit.
The width and thickness of the slit should also be sufficiently small so that coins don’t fall out of it. Some children might even attempt to put a knife or some other flat object into the slot to pry coins out.
Lock
There are several types of locks used by reusable piggy banks. Some of the more affordable ones allow you to put your lock and key to a latch so that you have control over when the piggy bank is opened.
Ensure that the lock is big enough that a hairpin or a safety pin cannot pry it open. Smaller locks also open when enough pressure is applied.
Withdrawal
Some piggy banks are designed to be one-time use products. They will give you the thrill of breaking the piggy bank for all the coins to flow out.
Others are more practical, and you can open them via a lock or a password to withdraw the money. You will have to decide whether you want to be practical or want the thrill of a traditional piggy bank.
Capacity
Some piggy banks are very intricately built and have limited space for storing coins. Others have a lot of space for saving coins and will take a longer time to fill up.
If your child is prone to requiring quicker positive feedback, you might want to go for a piggy bank with a smaller capacity at first. You can then move onto one with a bigger capacity as your child understands the benefits of saving a little more.
Aesthetics
You must choose a piggy bank that your child will be attracted to. This way, your child will like to play or look at it and keep it in a place where he/she can regularly see it.
Every time your child sees the piggy bank, he/she will be reminded of its use, which promotes saving. Consult your child to make sure he/she likes how it looks before making your purchase.
Age
Smaller children are not particularly aware of what money is or how saving works. Experts recommend introducing your child to saving from the age of 3 onwards.
By this time, your child will have certain things that he/she wants to buy from stores. You will be able to show your child that he/she will be able to buy those things if enough money is saved in the piggy bank.
There is no age limit for using a piggy bank though generally, children stop using them after the age of 10.
Password Protection
You should make sure that you don’t put a simple password for your child’s password protected piggy bank. Children can be very innovative when it comes to cracking codes, and a 3-digit code will be cracked quickly.
This will be done as soon as your child realizes that all he/she has to do is punch in the digits from 000 to 999. Try to choose a password like the last digits of your cell phone number so that you will remember it when it’s time to make a withdrawal.
Durability
Piggy banks can get quite heavy when enough coins are in them. You must purchase one that has enough structural integrity to withstand being moved around while being full.
You will need to teach your child the necessity of being delicate with his/her piggy bank if it is made of clay or light plastic. If the container is made out of metal, it must be made from materials that don’t get rusted or stained.
Toy
Modern piggy banks also double as toys as they tend to have many gadgets and frills that come along with it. They can come in fun shapes of animals or characters that have personalities of their own.
Some even have additional games on the sides that your child can play with. The more your child plays with the piggy bank, the more the piggy bank is integrated into his/her life.
Educational
Some piggy banks are promoted for doubling as educational tools. Globe piggy banks allow your child to hear the churning of the coins inside as he/she turns the globe to look up countries.
Other piggy banks resemble ATMs that introduce your child to the importance of the global banking system. These features allow your child to learn additional information while learning the important skill of saving.
Branding
If your child is especially into Hello Kitty or Barbie, he/she might be interested in getting a piggy bank that is similarly branded. This will improve your child’s savings rate since there are usually visual and auditory bonuses for saving.
This will also help your child’s piggy bank be one of his/her daily playthings.
Saving Bonus
Many modern piggy banks have been designed to give visual and auditory feedback to the act of putting a coin or note into the piggy bank. This is a great way to encourage saving, as children love this kind of feedback.
The more exciting and intricate the bonuses are for inserting a coin, the more likely your child will keep putting coins/notes into the piggy bank.
11 Best Piggy Banks for Kids
1. Vikas Gift Gallery Piggy Bank
Vikas gift gallery is an excellent piggy savings bank that helps in developing saving habits in kids. It is a smart, safe, and electronic piggy bank that features a coin-deposit as well as a notes-deposit mechanism.
This piggy bank resembles the looks of an ATM machine that encourages kids to keep their savings securely within a lock. It is a smart machine that can store jewellery, cash, and coins.
The kids can apply a password lock for ensuring the enhanced safety of their piggy banks.
- This ATM piggy bank helps your kids to learn about savings while having great fun and entertainment
- It can be password protected for secure access by using four electronic password protections
- It is prepared from high-quality ABS plastics and electronic components
- It is powered by 3 AA batteries
- It is a premium quality designer piggy bank that is safe and suitable for kids
- It comprises various light and sound features for providing fun-filled entertainment
- It comes with a numeric keypad that looks similar to the one found on ATM machines
- It can be used for inserting both coins and banknotes.
- It looks beautiful in its multi-coloured design.
- It comes with stickers of kids’ favourite cartoon character “Doreamon” or minions pasted over its surface
- As soon as you open or close the door the lights of the piggy bank turn on
- Its sturdy built can withstand the rough handling by the kids
- It produces squeaking sounds when opening the doors of this piggy bank
- It enables you to reset the password if you have forgotten it
- The batteries are not included with the toy and these have to be purchased separately
2. Joy Stories Money Saving Bank
This high-quality piggy bank has been made in India by Joy Stories and has an adorable elephant design. The product comes in a blue, and red colour scheme produced using high-quality PVC plastic material.
This product can be recommended for parents looking for a cute and attractive piggy bank to present to their child.
- The piggy bank has been recommended for use with children above the age of 3 by its manufacturers
- There is a slit at the top of the product where coins and notes can be inserted
- If a note is to be inserted, it has to be folded first before insertion
- The height of the product is 19cm, and it has ample space to collect coins and notes for a prolonged period
- The inserted coins and notes can be withdrawn using the mechanism at the bottom of the piggy bank
- Each of the two keys that have been provided unlocks the plastic cover to a sizable hole for withdrawing the money
- One of the keys can be given to your child to encourage mature decision-making when it comes to saving money
- It is made using high-quality PVC material
- It is made in India
- This piggy bank is in adorable elephant shape. You child can even play with it
- It is sturdy and provides value for money
- It is very small in size
3. Sri Balajee Bangles Piggy Bank
This elegant piggy bank by Sri Balajee Bangles has been produced using an elephant theme. The product has been recommended for use by kids of an age to appreciate the art of saving money.
- There is a metal embedded slit at the top of the product for inserting coins and notes
- The notes will have to be folded to be inserted into the opening
- The total weight of the product is 750g, which shows that it is quite solidly built
- The bottom of the product has a compartment that can be opened using any of the two keys that have been included for withdrawing any money
- This piggy bank is handcrafted and made using beechwood
- Its design is aesthetically pleasing
- The lock, as well as the keys, are made out of durable metal
- The finishing of the product could be better
4. FunBlast Money Saving Tin Coin Bank with Lock and Key –
FunBlast has a wide range of engaging toys and kids education tools that can be used to support toddlers development. FunBlast toys and products are high quality, reliable, unique, and eye-catching.
- It comes with a key and lock for securely storing money.
- The box has space to put coins as well as rupee notes.
- It is made of metal and is highly durable.
- It comes in an attractive fruit shape.
- It has a sturdy handle which makes it convenient to hold and carry.
- The paint quality is of good quality.
- It can be used for multiple purposes, such as storing jewellery.
- It is light in weight.
- No cons were observed
5. Osrs Piggy Bank
This competitively priced piggy bank by OSRS International has been shaped in the form of a cute panda. This product can be used to encourage independent decision-making by your child when it comes to saving and spending money.
This piggy bank can be recommended for parents looking to provide their child with the opportunity to save coins and notes on a budget.
- The black and white colour schemes are beautiful and appealing
- The product is manufactured using durable food-grade PET plastic for prolonged and safe use
- This item has been recommended for use with children above the age of 2
- The dimensions of the product are 10cm x 14cm x 10cm
- It also has a weight of just 120 grams
- The compartment at the bottom of the piggy bank can be used to withdraw money when it is needed
- It is made using high quality and lightweight plastic
- The slit at the back of the panda’s head can be used for both coins and notes. Notes have to be folded before being inserted into the product
- It can also be used as a toy
- Size is too small
6. Syga Money Saving House
This beautifully designed piggy bank by Syga has been made in the form of a cute little house. It comes in both pink and blue colour schemes, presumably for girls and boys.
This piggy bank can be recommended for any parent looking for a well designed durable piggy bank that can be reused.
- This piggy bank has been recommended for use by children above the age of 4
- The coin and note slot is well placed under one of the attic windows of the house
- The slit is large enough for any type of coin, as well as folded notes to be inserted
- The dimensions of this product is 11.5cm x 8.5cm x 10cm (L x W x H) and it weighs just under 250g
- There are hinges behind the house under the roof where the top opens
- A latch on the front allows you to put the included lock on it before your child starts to use it
- There are two keys to the lock where you will be able to open the lock for your child if he/she loses his/her one
- Kids will love the feeling and hearing of their savings grow with this lovely product
- The durable structure of the product has been manufactured using high-quality metals that will enable it to be used for a prolonged period
- Very small in size
- Too expensive according to its quality
7. Zhengtu Piggy Bank
This brightly coloured set of piggy banks by Zhengtu has beautiful animal-themed prints on them. You can choose from mini-house designs with a tortoise, a tiger, a zebra, an elephant, a cow, or a giraffe.
This house-shaped piggy bank can be recommended for any parent looking for a great deal on piggy banks.
- The manufacturers recommend that these piggy banks can be used with infants as young as 3 years old
- The coin slot is placed on the top of the house on one side
- The slot is big enough for any kind of coin but will need to have the notes folded before they are inserted
- The dimensions of these cute little houses are 9cm x 5.5cm x 11.5cm
- The size is small enough to fill up quickly and allow your child to experience the joy of withdrawing money over and over again
- The products have been made with high-quality, durable wood and non-toxic child-friendly paints
- There is a child-proof rubber cover for the withdrawal hole at the bottom of the piggy bank
- It is made of wood
- Very small
- the finish could be better
8. Joy Stories Piggy Bank
This lovely little pink product with blue spots by Joy Stories has been manufactured with durable plastic materials. The manufacturers laud the shape of this product as being great for being held by children.
This well-made product can be recommended for parents looking to provide their child with a traditionally shaped piggy bank.
- This piggy bank has been recommended for use with children aged three years and above
- The dimensions of the piggy bank are 18cm x 11cm x 12.5cm (L x W x H), which is quite large for this category
- Its lightweight of just under 100 grams was achieved through using lightweight plastic material
- Just like in traditional pig-shaped piggy banks, the coin slot is right at the middle of the pig’s back and is large enough for both coins as well as folded notes
- The withdrawal portal has been placed at the bottom of the piggy bank
- There are two keys to open the withdrawal portal so that both you and your child can have a key each (just in case your child loses his/hers!)
- It is light in weight and safe for kids to even play with it
- The construction is not up to the mark
9. Gooyo Piggy Bank
This amazing product by Gooyo is a multi-purpose piggy bank that might turn out to be one of your child’s favourite playthings. It comes in a white and black colour scheme and has been made primarily of durable, odourless ABS plastic material.
The battery compartment has been built to accept 3 AA rechargeable batteries (not included) and a USB charging cable has been included.
- The product has been recommended for children above the age of 3
- It has dimensions of 18.5cm x 10cm x 25cm and weighs approximately 890g
- This incredible robot piggy has a very practical strobe-like study lamp that comes out of the top head flap
- The eyes of the robot also flash and light up when used
- It also has an independent sound system that can make sounds when it is used as well as play a myriad of tunes
- You are also able to choose the language of the piggy bank to either English or Chinese
- There is a keypad on the robot that has number keys from 0 to 9, as well as the asterisk and pound signs
- This keypad can be used to set the password for the machine before your child starts to use it
- The robot plays sounds and flashes lights when the door of the vault opens and closes
- Your child can select his/her favourite tune by using the keypad
- Coins can be inserted from the top of the robot while there is an ATM-style roller system on the side for accepting notes into the piggy bank
- Expensive
10. Mysale Piggy Bank
This very mature piggy bank by MySale has been targeted at children that just can’t wait to be like their parents. The product comes in a whole host of colours in the form of an almirah.
This highly durable and well-made product can be recommended for parents looking to buy their child a solid, long-lasting piggy bank.
- Just like a regular almirah, this product has been made from durable metals with a real mirror on its front door
- The product has been recommended for use with children aged two and above
- The product has dimensions of 11cm x 8.5cm x 21.5cm and has a solid build
- The coin and note slot for this piggy bank is on the back upper side of the almirah
- There is only one compartment for the coins and notes as the two other compartments (separated as shelves) have been kept for other valuables
- The lock of this almirah piggy bank has been manufactured to resemble a standard almirah lock and uses a full-sized metal key to open it
- There are two keys provided with it, one for your child and one for you
- When opened, the whole front side of the piggy bank opens just like an almirah door would
- Little expensive
- Dangerous pointy edges
11. Sashi Piggy Bank
This Hello Kitty branded piggy bank by Sashi has almost all the frills you would expect from a much higher priced product. The pink and white themed machine has been primarily conducted using high-quality plastic.
This product will be your child’s favourite toy if he/she is into Hello Kitty branding and can be recommended to any parent.
- The product has been recommended for use by children over the age of 3
- There is a coin slot at the top of the piggy bank to insert coins
- There is a much wider slit at the side of the product to insert notes
- The manufacturers recommend using this product also to store small jewellery items as it has a password lock
- The 3 AA batteries (not included) needed for it to function go into a compartment at the bottom of the product. You will need a screwdriver to open and close this compartment
- There are a lighting and sound system that is activated when you open and close the door to the piggy bank
- When the password is entered wrong, there is a ‘please try again’ message that plays with a flashing red bulb (green for correct).
- The keypad on the side of the piggy bank has numbers from 0 to 9, as well as the asterisk and pound symbols
- Hello Kitty related audio can be played using the piggy bank’s audio system
- Specific tunes or phrases can be selected using its keypad
- Sometimes the door won’t open even if putting in the correct password
Frequently Asked Questions
1. Are there hand-made piggy banks, and what is unique about them?
Yes. A lot of the clay piggy banks that are in the market are hand-made. Certain wooden piggy banks are hand-made.
The advantage of hand-made products is that each one is unique, making the carvings and ornaments on the product extra special. There is generally a bump in the cost of hand-made products due to the extra labour cost.
2. Can you put currency notes into piggy banks?
Yes. There is absolutely no problem in putting paper currency into a piggy bank. Especially since money is inflated these days, the piggy bank won’t hold much money if you don’t include paper currency.
However, your child has to be taught not to play with the piggy bank too much if there is a paper currency. Paper money can tear if jostled around with masses of coins around them.
3. How are electronic piggy banks powered?
Generally, electronic piggy banks are powered by removable batteries. Some rare ones can be charged. The piggy banks are programmed to reset the password as soon as the battery is replaced.
4. What sizes are most piggy banks?
While there is a range to the sizes piggy banks come in, they generally come in a size that can be transported easily by your child’s small hands.
Some come in sizes as small as 10cm x 10cm x 10cm, while jumbo piggy banks come with lengths of more than 25cm. Try to get a size that fits the mentality of your child.
If the piggy bank’s size is too big, your child might get bored with the saving project and not bother trying to fill it to the brim.
5. How much money can a piggy bank store?
There is a big variability in how much money a piggy bank can store. Generally, the size of the piggy bank determines how much coins and paper money can be stored. The denominations inserted would determine how much is actually stored.
6. What materials are piggy banks constructed with?
Piggy banks are manufactured using a wide range of materials. The most common material is plastic, as it is a very low-cost material that is durable.
The traditional piggy bank comes in a baked clay format. Some simple and practical reusable piggy banks come in a tin or other types of low-cost metal.
Some of the more expensive piggy banks can come in high-quality wood with ornate carvings and fixtures. Most electronic piggy banks are a mix of plastic, metals, and rubber.
Conclusion
Playing with a piggy bank helps your kids to develop their financial and computation skills while having entertainment. They get introduced to the various denominations of currency, including the coins. They feel delighted to insert the coins and rupees in their piggy bank.
The piggy banks come in various types that range from simple traditional clay piggy bank to a high-tech ATM-styled piggy bank. The piggy banks serve as an ideal gifting idea for the kids and inculcate the sense of responsibility and ownership in your kids at an early age.
Our top picks are Sri Balajee Bangles piggy bank and Syga money saving house.
As your kids learn the concept of savings and money management with these piggy banks, we can use this opportunity to understand that we should manage money and not allow the money to manage our lives.
