Savings accounts for 5 & 3 year olds

noodlespink2

My son and daughter both have about £2000 in their own savings accounts. They are getting 3% on the first £500 and then 1.10% on balances over £500.

They obviously cant have the Junior ISA as they werent born in the dates they need to be.

Does anyone know if there are any decent savings accounts for them as they all seem to be regular savings which isnt what we want and want them to get the most interest they can

Thanks in advance

ses6jwg

What are the savings for?

Will you be adding regularly?

eskbanker

See this current thread which links to the relevant recommendations....

xylophone

If parents are providing the money (outside tax privileged schemes like CTF/JISA), be careful of the £100 rule http://uk.virginmoney.com/virgin/savings/learn/childrens-accounts/

Re CTF http://www.moneysavingexpert.com/savings/child-trust-fund-vouchers

The CTF might be transferable to JISA in due course. http://www.moneymarketing.co.uk/paul-kennedy-where-do-child-trust-funds-fit-in-the-jisa-puzzle/1076158.article

noodlespink2

Hi

Its money they have been given when they were born, birthdays, christmas and pocket money from their great grandparents but not on a regular basis.

So not looking for regular savings just a savings account to put it in with a decent interest rate if that exists

xylophone

Lloyds Young Saver
Halifax/Bank of Scotland Young Saver
might suit?