best 18yr savings account for my newborn niece

rworth6

Hi all
I am new to this so go easy please...........
My sister recently gave birth to my gorgeous new niece :T and I would like to open an account for her as a present, it will be in my name as signatory but I will pay in £10 a month for next 18yrs so that on her 18th she can have the account signed over to her.
I have looked at various long term savings accounts, what is the best option please?
Many Thanks

xylophone

With so long a time scale, ( and if you could afford £25 a month) it might be more rewarding to open an investment trust savings plan in bare trust.

Example http://www.sit.co.uk/products/investing_for_children/features/questions_and_answers/

Or you might prefer to contribute to a JISA which your niece's mother/father would need to open on her behalf.

Currently the best cash JISA ( provided the parent holds an ISA with them) is offered by Halifax at 6%.

Or they might prefer the stocks share option or a combination of the two.

http://www.whatinvestment.co.uk/investment-decisions/investing-for-children/2347613/the-best-investments-for-children.thtml

https://www.gov.uk/junior-individual-savings-accounts/overview

Otherwise there are various children's savings accounts- the parent would need to sign any R85.

http://www.moneysavingexpert.com/savings/child-savings-tax-free

xylophone

Currently the best cash JISA ( provided the parent holds an ISA with them) is offered by Halifax at 6%.

Stop press ( alas):(

Still the highest but going down to 4% - see http://www.thisismoney.co.uk/money/saving/article-2684424/Halifax-chops-rate-popular-best-buy-6-Junior-Isa-savings-account.html