Best savings account for inheritance

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Hi,

My son and I have recently been left some money by my Grandad.

I was wondering if anyone has any advice about the best savings accounts around for myself and my son.

He already has a Halifax savings account, but am looking for something with a high interest rate and ideally one we can deposit a large sum into and not be limited by a £100 a month cap which a lot seems to have.

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  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    How much are you talking about and how old is your son?
  • xylophone
    xylophone Posts: 44,614 Forumite
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    I am assuming that your son is under 18?

    Have you looked at the Halifax JISA?

    At the Santander mini 123?

    At the Nationwide Smart Limited Access?
  • MichelleC
    MichelleC Posts: 7 Forumite
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    About £14k for me and just under £10k for him.

    He is 7 years old
  • xylophone
    xylophone Posts: 44,614 Forumite
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    Your child has a CTF?

    Assuming that you have added no cash in this CTF year, you might consider first adding £4080 to the CTF, transferring the CTF to a JISA, (this will permit you to add another £4080 after the transfer is completed), depositing the balance in another account in your child's name and adding that amount plus interest to the JISA on or after 6 April 2017.

    See post 9 here http://forums.moneysavingexpert.com/showthread.php?p=70723620#post70723620
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