Scottish friendly Junior ISA

TartanRug

Hi,

We are thinking of starting Scottish friendly My Family Select Junior ISA for our baby girl. This ISA gives you a gift of £50 when you start it up and gives you some choice in what you want your ISA to invest in.

Has anybody else used this ISA or have any opinions about whether it's a good deal or should I look elsewhere.

Many Thanks!

xylophone

http://www.thisismoney.co.uk/money/investing/article-1587994/Junior-Isa-Child-Trust-Fund-How-save-invest-children.html

http://www.money.co.uk/savings-accounts/investment-isas.htm

May be worth a look.

Archi_Bald

Anything "Friendly" is named so to catch the unsuspecting, as is any upfront "gift". All plans from Friendlies are generally very expensive, but often the fees are hidden and the construct of the plan is very opaque. You can also be certain that the "gift" is something that's funded from saver's deposits - most likely your own over time.

The best article on investing for children I have seen is http://monevator.com/how-to-invest-for-children/