Best saving account for Baby

dexterwolf

I am looking at setting up a bank or Savings account for my daughter . So she can have some money when she turns 18/21 to spend on something.


Any ideas of the best account or has anyone set one up for their little one ?. I have seen a few accounts but I don't know the best route to go.

grumbler

>> Children's Savings

Archi_Bald

A long period like 18+ years is an ideal scenario for investments rather than savings. Here is an excellent article on investing for kids: http://monevator.com/how-to-invest-for-children/

xylophone

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

Within the annual allowance you could choose both stocks and shares and cash if you wanted to hedge your bets.

At the moment, the best rate on a cash JISA (4%) is from Halifax if the registered contact holds an ISA with them.

Re other options http://www.thisismoney.co.uk/money/investing/article-1587994/Junior-Isa-Child-Trust-Fund-How-save-invest-children.html
might be worth a look.