Under 18's savings a/c

J_B · 8 May 2008 at 3:23PM

My 16.5 year old daughter (as well as my 21 year old one) has 75K+ to invest (inheritance)
The 21 year old has no problem opening Kaupthing Edge and B'ham Midshires accounts at over 6%
But these are all for over 18s

Can anyone offer a good rate for 16-18's

:huh:

Lokolo · 8 May 2008 at 3:34PM

Has she got a bf? (hehe, I am joking don't worry)

Um Egg have a variable rate currently at 4.75% which is pretty crappy. But she would only need to put up with it for 1.5 years and then go with someone better.

Trying to find someone better but struggling at the moment!

[edit]!!!

http://www.postoffice.co.uk/portal/po/jump1?catId=19300232&mediaId=23200510

Post Office have a goodun

but its a bonus for a year so after a year you would need to change or keep it for 6 months until she is 18
5.75%

Also

http://www.ybs.co.uk/savings/online/internetsaver/index.jsp

Is 5.7%

J_B · 8 May 2008 at 3:46PM

Thanks, but why can't 16 year olds have as good a rate as 18 year olds?

Bah humbug!

(Hope you're watching Stoke City if you're at Staffs Uni!)

Lokolo · 8 May 2008 at 3:50PM

Haha yeh I am but from Wycombe so at the moment I am going for my team to win League 2 Playoffs

Um not sure really, it really does suck! But its only a year and half away so not long now!

Indeed BAH HUMBUG :-)

dollywops · 8 May 2008 at 3:50PM

I have just tied up £30,000 of 16 year old DD's money in a year's ebond with Nationwide fixed at 6.60%. With this one, you have to open a flex account firstly. You can then transfer the funds into the flex account and open the ebond from the flex account.

She also has £30,000 in a Fixed Rate Web Saver at 6.60% with the Halifax for 6 months. I see the 9 month one is now paying 6.70%. Once again, you have to open their variable web saver to start with.

The balance is sitting in an Abbey esaver, which is only 5.40%.

Don't forget to complete R85 forms to register the accounts for gross interest.

J_B · 8 May 2008 at 4:20PM

dollywops wrote: »

I have just tied up £30,000 of 16 year old DD's money in a year's ebond with Nationwide fixed at 6.60%.
She also has £30,000 in a Fixed Rate Web Saver at 6.60% with the Halifax for 6 months. I see the 9 month one is now paying 6.70%.

That looks better - I'll go and look there.

Thanks

chachiluz · 4 August 2009 at 8:56AM

Hi
My 16 year old has received a little money from a bond, she has about £1000 and another £1000 from a saving account paying very little. She doesnt need the money and wants to leave it for a couple of years. Any ideas? I know the interest rates are pitiful but any comments will be very appreciated.

Chach xxx

Lokolo · 4 August 2009 at 10:06AM

chachiluz wrote: »

Hi
My 16 year old has received a little money from a bond, she has about £1000 and another £1000 from a saving account paying very little. She doesnt need the money and wants to leave it for a couple of years. Any ideas? I know the interest rates are pitiful but any comments will be very appreciated.

Chach xxx

http://www.halifax.co.uk/savings/fixedwebsaver.asp

If she fixed for 2 years (only 1 deposit is allowed though), she can get 4.15% assuming she does not pay tax.

Or http://www.askbm.co.uk/savings/i/fixed/product.asp?id=292

For 25 months you get 4.2%

chachiluz · 4 August 2009 at 10:38PM

Thanks so much. I will look into it and sort it out for her.
Gracias
Chach xx

opinions4u · 4 August 2009 at 10:56PM

Lokolo wrote: »

Haha yeh I am but from Wycombe so at the moment I am going for my team to win League 2 Playoffs

I rather enjoyed the equaliser at Adams Park and the early goal for Stockport at Edgeley Park

!!

Under 18's savings a/c

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