Regular saving for grandchild

GabsBlackpool

Hi There.......any advice appreciated :-). We are new grandparents (3 weeks) and would like to start regularly saving for our grandchild until he is 18.......is an ISA the best or a regular current account or another option - we really are confused with all the options....many thanks :-)

xylophone

Your grandchild will be eligible for a JISA to which contributions of up to £4000 can be made in the current tax year - you could contribute.

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

Otherwise you might consider regular savings into an investment trust held in bare trust for your grandchild?

http://www.bgchildsavings.com/pages/how_to_invest.aspx

https://www.hl.co.uk/free-guides/investing-for-children

hgt

Or I think the Halifax Children's Regular Saver still pays 6%. Might be worth checking that out too.

CLAPTON

hgt wrote: »

Or I think the Halifax Children's Regular Saver still pays 6%. Might be worth checking that out too.

It's unlikely that a 1 year a/c would be suitable for a 18 year savings plan.

jimjames

hgt wrote: »

Or I think the Halifax Children's Regular Saver still pays 6%. Might be worth checking that out too.

Personally I wouldn't (and haven't) put money in cash for kids savings.

We use this for our children

http://www.invtrusts.co.uk/aam.nsf/InvestmentTrusts/investchildren

We also use F&C but I can't recommend them due to their new high charges