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Best savings vehicle for a 17 year old student
Samb306
Posts: 5 Forumite
Any ideas for the best place for my 17 year old student daughter to put some savings. It seems that she is too old for children' s savings and too young for an adults account!
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Comments
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Could she get a JISA with Halifax?
http://www.halifax.co.uk/isas/0 -
A cash JISA at Halifax? 6% AER. Can deposit up to £3,720 this year. Not sure, however, how long your daughter will still be 17, so this may not be too applicable.
http://www.halifax.co.uk/savings/accounts/cash-isas/junior-cash-isa/
Also, as a 17 year old, she can open a normal 'adult' ISA - much lower interest rate but another place for up to £5,760 this year.
EDIT: xylophone just beat me to the JISA suggestion. Great minds...0 -
What is the money for? How long will it be saved/not spent?0
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