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savings for 5 year old
llionjones1
Posts: 8 Forumite
can you please tell me where's the best place to invest £1200 for my 5 year old son. i was looking at a 1 year fixed rate bond,i usually put it in my wifes name as she is tax exempt, can you therefore advise accordingly. thank you
0
Comments
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Hi there, I just put £1000 of my kids money into a Guaranteed Reserve 2 year @ 4.3% with the Halifax, I think their 1 year is 3.2%.
You do it as a trustee, so its tax exempt.
I also opened a childs regular saver whilst I was at it at 6%0 -
i saw NS&I offer a 1 year @ 3.95.0
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