Help with childrens savings accounts

loulabelle73

Hi all,
I wondered if anyone could advise me as to which savings accounts offer good deals for children at present,
I have five children and thier grandparents have just decided they would like to deposit some money each month into a savings account for each child, (it will be a different amount each month or every other month so cant be a regular monthly savings account),

They have asked me to set the accounts up for them so any ideas or opinions on what ones to go for please?
Thanks in advance
lou x

anniecave

5.05% on a halifax save4it account - maximum balance of £5000

save-a-lot

Hi

What happens after £5K?? can you not make further payments into it??

My little girl has a save4it account and probably within 12 months her account will hit the £5K mark

knuckledragger

save-a-lot,
open up a Bradford and Bingley Smartsave or Firstsave account (5.25%).
The rate includes a 0.5% bonus which limits you to a maximum of 3 withdrawls per annum.

loulabelle73

thanks very much for your help, I will go into halifax tommorow

lou xx

save-a-lot

knuckledragger wrote:

save-a-lot,
open up a Bradford and Bingley Smartsave or Firstsave account (5.25%).
The rate includes a 0.5% bonus which limits you to a maximum of 3 withdrawls per annum.

Thanks, helps alot