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Saving for a grandchild
joyella
Posts: 6 Forumite
I’ve recently become a grandmother and I would like to take out an ISA or savings plan so that when my granddaughter starts uni/ married life she will have a fund to fall back on. What do you suggest
Joyella
Joyella
0
Comments
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Your granddaugher's parents can open a Junior ISA for her, into which you can contribute, but you couldn't open one yourself. The money would be accessible when she turns 18.
Other non-ISA options are listed at https://www.moneysavingexpert.com/savings/child-savings-tax-free/ but I haven't checked which ones can be opened by grandparents, or there are always Premium Bonds.
Or you could keep savings in your name and retain control over when to hand them over if you prefer....
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or there are always Premium Bonds.
You can buy them in the child's name and they will get access at 16 ( maybe a bit young ?)
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