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Accounts for Children
Loobeylou
Posts: 901 Forumite
We have two grandchildren aged 10 and 12. They each have a Halifax account which is now paying pits interest.
I do know that if we open a new Halifax account for each of them we can save a regular amount for twelve months at a much better rate of interest.
However, what to do with the bulk of their money that we have already saved, whch totals about eight thousand pounds. Are there any accounts/bonds out there which will pay a half way decent rate of interest?
Even though we wish to reinvest this money, we are wary about tying the money up for several years as we are then stuck if the interest rate rises.
I do know that if we open a new Halifax account for each of them we can save a regular amount for twelve months at a much better rate of interest.
However, what to do with the bulk of their money that we have already saved, whch totals about eight thousand pounds. Are there any accounts/bonds out there which will pay a half way decent rate of interest?
Even though we wish to reinvest this money, we are wary about tying the money up for several years as we are then stuck if the interest rate rises.
0
Comments
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Hi
Take a look at the best buy tables on www.!!!!!!.uk they have tables for regular savings and children.
I can't promise that anywhere is paying a half decent rate of interest at the moment though!
The Cautious Investor0
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