Best Kids Account

Stewboy1978

Evening
1st born was born last Wed :T and my wife and I are looking for a savings account to put the following in

£250 Child trust amount

And on top of that £10 Per month from us as well as £5/£10 per month from each grandparent until she is 18.

Can anybody recommend an account for this to go into....?

Thanks

Leighthal

Congrats on your new arrival !!:beer:

Here's a link to the site artical on CTFs :

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

earthmother

For the trust fund - I don't know about the stakeholder/shares ones (the ones with risk attached), but for savings only ones (you are guaranteed out what goes in) Nationwide and Britannia regularly top the interest rates. It is, of course, worth double checking this before opening an account.

For savings - the best rate at the moment is with the Halifax Children's Regular Saver, which is offering 10% for a one year period, with the option to either start again at the end of the year, or take your money elsewhere if you don't like the new rate. You and each grandparent, and any other adult for that matter, can open separate accounts in the little one's name, so maximising the interest earned, but you can't withdraw, and you have to make the monthly payments.

The link for that is here - http://www.moneysavingexpert.com/savings/child-savings-tax-free

Good luck, and congrats