best bank account to save for my kids

soupy600

Hi guys,

As the title says I'm looking for the best bank account to save some money for my kids, also happy enough if it was locked away until their 18th.

This time last year I opened a nationwide future saver for them and at the time I think it was 3% interest which is now down to 1% but looking a better rate, from what I can see on the site there is the Halifax regular saver at 4% for the first year then it reduces or there's the NS&I ISA at 3.25% are these my best options for a regular saver and an ISA or should I be holding off to see if the interests rates pick up.

At present I have about £5000 and £4000 for them in the 2 separate accounts.

george4064

I would just crack on and open the accounts, remember interest rates could just as easily fall further than rise in the future. So it’s a risky game to wait it out in hope for better rates in the near future.

If you haven’t already, make sure you check out the Children’s Savings Guide here: https://www.moneysavingexpert.com/savings/child-savings-tax-free/

soupy600

Thanks will have another read over it