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Postal account for a child
Roberta1
Posts: 649 Forumite
Hello all. Hoping you can help with my situation.
My dd (10) has asked to open an account to start saving with. She currently has about £50 and I doubt the balance will ever go much beyond that.
We live in a rural area and the only options in our town for her to be able to walk there are Lloyds TSB and Natwest, both of whom offer very poor rates of interest.
So, can anyone advise me on the best postal accounts? I'm looking for good interest rates (so she can see it is worthwhile to save - tricky one at the moment!) and for ease of use, specifically how easy it is to withdraw small sums of money.
I'd be grateful for any advice you may have.
TIA.
Roberta
My dd (10) has asked to open an account to start saving with. She currently has about £50 and I doubt the balance will ever go much beyond that.
We live in a rural area and the only options in our town for her to be able to walk there are Lloyds TSB and Natwest, both of whom offer very poor rates of interest.
So, can anyone advise me on the best postal accounts? I'm looking for good interest rates (so she can see it is worthwhile to save - tricky one at the moment!) and for ease of use, specifically how easy it is to withdraw small sums of money.
I'd be grateful for any advice you may have.
TIA.
Roberta
0
Comments
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Hi Roberta, I googled this link.
http://www.moneyfacts.co.uk/money/savings/16/childrens-savings-accounts-other.aspx
The Loughborough BS offers a postal account at 2.20% with instant withdrawals and further additions permitted. Seems to be about the best available for what you looking for.
Hope this is of some help.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Thanks - that's really useful!0
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