Whats is best to do...help needed re childs money

meemo38

My inlaws put £1000 away when each of their grankids were born, the oldest as just had his given him last august and he got just over £2000 as the interest was good when it was opened, she has now asked us if we want to put our youngests money in an alternative account and look after it for him, he is 10 now, and from what she says he is only getting a few pounds per year as the interest in the account is not good any more....SO, were can we put it to ensure he gets some good interest over the next 8 years, as we don't have much money ourselves i don't mind opening an isa in my name and keeping it in there if it gives him a little more money at the end of his 8 years.
Thanks i advance
Michelle
PS i am absolutely useless with figures so basic info a must lol

xylophone

if the money has been given to the child then you hold it in "bare trust" for him until he is 18.
See http://www.hmrc.gov.uk/tdsi/children.htm for details and what happens when the child turns 16.
You might want to consider a fixed rate bond as a start?
http://www.money.co.uk/savings-accounts.htm?t=395401&u=f18b6503709 You might find something here?