best place for child’s money to earn interest

Batch123

My Grandson has money that has been raised for him on a just giving page, we want to put it away for him until he is older, where is the best place to keep it that gives good interest, and where we can add to it when we can.

Keep_pedalling

Not enough information.

How old is he? How much was raised? Is there any reason why he would not be able to manage the money himself when he becomes an adult?

Jonbvn

I would suggest a Junior ISA. No access to the funds are allowed until the child reaches 18.
Depending on the child's age it may be a good opportunity to invest in stocks and shares via an ISA, if the investment term is greater than say 10 years. 

xylophone

How old is the child? Does he have a JISA? How much has been raised? Is this regarded as a personal gift to the child?

Batch123

Hi thanks everyone, he has almost £10,000. We want to put it away until he is older for him. My Sons Friends and ourselves want to add to it over the years for his future, As we have recently lost my Son (his Daddy) who would have helped him along the way, but now that’s not going to happen 😢 My Grandson is 8yrs old.

Kim_kim

I would ecco a JISA 

xylophone

https://www.gov.uk/junior-individual-savings-accounts
You can start a JISA now with £4368 for the current tax year.
Hold the balance in  a child saver and then move  the annual subscription to JISA on April 6.
The balance can be moved across in the tax year 20-21.
You can have cash/ shares/ a mixture.
Examples
https://www.thisismoney.co.uk/money/saving/article-1583863/Best-savings-rates-Junior-Isas-children-s-accounts.html
https://www.vanguardinvestor.co.uk/investing-explained/stocks-shares-junior-isa?cmpgn=PS0517UKPABJI0001&gclid=EAIaIQobChMI3_2X16Lc5wIVh63tCh1VcwHwEAAYASAAEgJ06fD_BwE&gclsrc=aw.ds
https://monevator.com/using-vanguard-lifestrategy-funds-life/