Children's saving account

DebSkinner

Hi
My 13year old daughter is saving for an international Guides trip next year and wishes to open a savings account to earn interest on the money she makes between now and then. Any suggestions as to what sort of account she should have?
Thanks

ReportInvestor

Hi Deb and welcome to the site .

Chelsea BS Ready Steady Save or Saffron BS Ladybird accounts were the top payers @ 5.1%, before this week's interest rate changes, for U16s who need that sort of flexibility.

For future reference, this question was probably more suited to the savings/investment forum than student (18+) finance.

Neato

Hi,
Im not sure of the current interest rates but maybe check out Bradford and Bingley as they usually have excellent childrens accs

save-a-lot

Hi

For Under 16's try the Halifax Save4it account... 5.05% AER/gross p.a.
http://www.halifax.co.uk/savings/regular_save4it.shtml

Meatballs

Halifax Children's Regular saver at 10% AER?

http://www.halifax.co.uk/savings/childregularsaver.shtml £10-£100 a month?

Have to keep it open for the full 12 month term to get the 10% and keep up with regular payments, otherwise it drops down to the Save4It levels.