Savings account for Grandchildren

evergreen

Can I put money in some sort of savings account for each of my grandchildren that they can't access until they are 18?

xylophone

Do your grandchildren have CTF/JISA?

You could contribute.

See https://uk.virginmoney.com/virgin/savings/learn/childrens-accounts/

and note under 16th birthday.

CavendishWobble

If you want to put a lump sum in then you can go with the instant access accounts, depending on how much you have will determine the best account. Santander and HSBC are best for lower amounts and Halifax/Lloyds/Bank of Scotland best for higher amounts.

Or if you want to put a regular amount in then go with the regular savers, with Halifax being the best at 4.5%.

Reaper

Assuming they are young you should also have a think about investments as an alternative to savings accounts. Over the long term (which this is) they ought to out perform a savings account.

TomSurrey

Please please please don’t “save” for your grandkids, invest for them!