Children's Savings Accounts

emeraldbugle

Just been looking at the accounts we currently have for the kids. Saffron Walden and also the Halifax Save4it via the regular saver.

Just looked at a recent best buy list

http://www.thisismoney.co.uk/savings-and-banking/best-savings-rates/article.html?in_article_id=394168&in_page_id=50

Why do none of the banks want to attract children's accounts . Looks like I'm going to have to do one of Stafford or Swansea accounts.

Anyone got any better ideas?

post_it_note

If you look at the 2ND table regarding the link you provided you will see that Clydesdale and Yorkshire offer 5% for 5 years.
Assuming they are of an age that this wont be a problem.
Go for the one that lets you withdraw in the future if interest rates go up.
It maybe the case that you can only make a one off payment,so invest and open another account as they could then become regular savers,which would also keep the interest rate up on new savings.