Saving For Kids

rangers_fc

Hi
I am currently in a bit of a quadry my childs National Savings Bond has matured she now has the option of letting it roll over for further 5 years from £286.08 to £375.76 or going elsewhere with her cash, I have thought of going to the A&L currently offering 5.25% for a 1st savers account? Which of these accounts would provide the best return over five years. All input appreciated thankyou

deemy2004

Hi
I am currently in a bit of a quadry my childs National Savings Bond has matured she now has the option of letting it roll over for further 5 years from £286.08 to £375.76 or going elsewhere with her cash, I have thought of going to the A&L currently offering 5.25% for a 1st savers account? Which of these accounts would provide the best return over five years. All input appreciated thankyou

Well £375.76 from £286.08 over 5 years is better than the A&L 5.25%.  I.e. the A&L would equate to a return of £369.48 (compound). Infact the National savings return equates to an AER of 5.6% !

rangers_fc

This must be because the NSI bond has a end of term £24.06 Bonus added at term. Looks like this is the best option thanks for youre help ;D

rangers_fc

Yes cloud_dog thanks I have considered this, however this investment was for saving as opposed to spending when you wish  ;D. Trying to install some of my MSE trates elsewhere thankyou for youre input  :D