Baby Savings Account??

joey23

In need of some savings advice...

I'm due twins in November and looking to open a savings account for them both. One that i can pay an amount into each month and hand over to them when they are 18.

Ive read the articles about junior ISAs etc but they are coming from the point of view of having old kids. Is the junior ISA the best option for babies too?

Thanks in advance,
Jo

weenie15

The only criteria for Junior ISAs is that the child must be under 18 and living in the UK.

Since you will be investing for the long term (18 years), then it's probably one of the best accounts to consider for your twins.

Check here for cheap online platforms: http://monevator.com/compare-uk-cheapest-online-brokers/

xylophone

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

Flobberchops

In my opinion JISAs are even better for younger children as your stocks and shares have 18 years to smooth out the peaks and troughs.

joey23

Thanks everyone. I'll go with the consensus, Junior ISAs it is!

jimjames

joey23 wrote: »

Thanks everyone. I'll go with the consensus, Junior ISAs it is!

But invested, not held as cash

xylophone

http://www.hl.co.uk/investment-services/junior-isa

https://www.hl.co.uk/free-guides/investing-for-children

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=charles%20stanley%20jisa

http://monevator.com/how-to-invest-for-children/

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