Halifax Young Saver Rate Decrease

justme111

I have some in CTF funds. I wanted a pot in cash as well. Or whatever else is not funds. I suppose there are no suitable bonds with return 2%+ and ns certificates (or whatever they called )are about 2%as well .. I may consider those when she is closer to 18 to delay the time she would get her hands on them probably..

Archi_Bald

Helen224488 wrote: »

I am concerned that if I die the money will go to my next of kin and not my daughter if the account is in my sole name.

a will would solve that issue

Helen224488 wrote: »

Also you say Halifax JISA is 4% - It is only 4% if the adult has an ISA at Halifax and seeing as I already have a fixed rate ISA not at Halifax I am not entitled to 4% but 3%.

that was rather unfortunate planning as the Halifax JISA has been around for years (paying 6% AER until about 12 months ago). May be you will be able to figure something out next April.

Helen224488

I have a will which leaves all my cash and assets to my husband. My 2 children get 50% each of my pension / death benefit but everything else goes to my husband who is not my dauhters biological father so I prefer childs savings to be in their own account rather than an adult account in my name.

I only opened the JISA last year to be honest I never considered a JISA as I was happy with easy access kids accounts at 3% and I did have the money tied up in a 3 year PO bond but when I went to renew the bonds the interest rate dropped dramatically. I think the JISA is a good option for me as I want to save until daughter is 18. I just need to keep an eye on the interest rate.

It's such a pain having to keep an eye on interest rates all the time. I work full time and find it quite frustrating but good to get a nice little gift to surprise my daughter when she is 18.

jimjames

Helen224488 wrote: »

It's such a pain having to keep an eye on interest rates all the time. I work full time and find it quite frustrating but good to get a nice little gift to surprise my daughter when she is 18.

As per my previous post, investments make that easier as you don't need to constantly check interest rates. In fact they are better left alone so you don't worry about the value every day.