Child's Account

kirkie_2

I want to open an account for my baby daughter. I have £30 to open it with, but want something that will earn interest as I will be just paying in to it rather than withdrawing...

Any ideas?

isasmurf

The best paying instant access account from a main bank is from Alliance and Leicester at 5.25%. Some local Building Societies offer a slightly higher rate for Children's accounts.

If you can afford to put away something every month Halifax 5.55% on a Children's monthly saver.

If you want to wait a few months, the Child Trust Fund launches on 5th April next year. With lots of £250 vouchers around, there is likely to be intense competition between the Banks for these Children's accounts, so you could get some good deals. It could be a good time to be a child...

deemy2004

Alliance and Liecester - Also remember to fill in the R85 or A&L's version of the form

If the childs under 7 it will be opened in your name in trust for the child.

Minimum opening amount is £1

Pink.

I have been saving for all of my children with Bradford and Bingley, and always thought it seemed like a good deal..........Until I read this thread.

They are only getting 4.7%

I think a move is in order!

Pink