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10 Year savings plan

Taffy1955 · 2016-02-01 19:07:25

I am looking at starting a some form of savings plan over a 10 year period for a grandchild. Looking at saving a small amount each month which cannot be accessed without having penalties imposed - any ideas? Or should I look at other savings plans?? Any advice is appreciated.:beer:

Comments

dunstonh Posts: 121,283 Forumite

1 February 2016 at 9:59PM

I was under the impression these were the best interest ones, I used a similar one many years ago, Friends Provident - Also, its a good way on stopping anyone cashing early?

There is no interest on these. Friends Provident would have been an endowment policy. They stopped being retailed in the mainstream 15 years ago and went obsolete about 20 years ago.

S&S ISAs killed them off (amongst other things)

I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

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