We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Best Savings account for a baby / Child
vallumlj
Posts: 30
Forumite
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 one is the best any advice would be great?
Thanks
0
Comments
-
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%?
More details on that account hereThe 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
Other childrens savings options are here0 -
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 3.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.8K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.9K Mortgages, Homes & Bills
- 179K Life & Family
- 263.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards