Best Account/trust For Teenager

GIBSTER_3

Hi Everyone

To Cut A Long Story Short

I Need To Invest £17,000 Into An Account For My Younger Brother That He Will Not Be Able To Touch Untill He Is 21

What Is The Best Account / Trust / Investement For Him ??

He Is 15 At The Momment But Cant Touch The Dosh Till He Is 21

The Money Is Currently In Premium Bonds Until I Can Find The Best Account .

Your Help Would Be Greatly Appreciated

crossleydd42

You could probably open an account in joint names with only your signature to withdraw the money, but only until he becomes an adult at 18. The best savings account is ICICI paying 5.15% currently. Martyn is keen on this account.
See: http://www.icicibankukpromotions.com/index.html?c_id=icici_uk_001&site_id=24&b_id=38&UserType=G_ICB_TL

IF he's not currently a taxpayer, he could get the interest gross by filling in IR form R85 see: http://www.hmrc.gov.uk/families/babsi.htm