Best Savings account for a baby / Child

vallumlj

We have just had our first child and would like to open a savings account where us and our family can make regular payments into.

What one is the best any advice would be great?

Thanks

Lokolo_2

vallumlj wrote: »

We have just had our first child and would like to open a savings account where us and our family can make regular payments into.

What one is the best any advice would be great?

Thanks

What sort of amounts are you looking at putting into a savings account for them? Do you require instant access to the money?

How about the Halifax regular saver at 6%?

The Children's Regular Saver from Halifax pays a whopping 6% AER, fixed for a year. Yet there are some conditions you must pay in between £10 and £100 every month. No withdrawals are allowed, but you can miss monthly deposits. Though you can only apply in branches

More details on that account here

Other childrens savings options are here

atush

I agree that Halifax regualr saver is a good place to start.

But depending on total amts that you and they will want to save per month/yr, and how long the money is to grow for (I assume 18 yrs) I would look to put some (half at least) of that savings into equities which should outperform cash over 17 years+. Look at the new Junior Isas, and look at investment trust savings plans- I use these to save for my 3.