Long term savings for children

Granddad_Moose

Hi All, I want to invest £500 for a grandchild until they are 18 years old.(They are only a baby at the moment, so long term) I may want to add to it from time to time so it needs to be flexible, something that is secure and grows at a steady pace over the years.

kingmonkey

http://www.moneysavingexpert.com/savings/child-trust-fund-vouchers

Over 18 years you might as well invest in equities or bonds, although the growth might not be steady.

andydavies

I would recommend Invesco Perpetual's Children's Fund, which aims to achieve long-term growth through a portfolio of investments and has a historic yield of 3.41 per cent. You can open an account with £50 deposit and then make monthly deposits of £20. Or Jump's Children's Savings Plan which offers a current yield of 2.81 per cent, where you can make monthly deposits of at least £25.

In both accounts you can save up to £1,200 a year.

Check out comparison sites like fairinvestment.co.uk or moneysupermarket.com for more information.

Good luck!