Children's savings

everycloudandthat

I have twins age 5 who have 10k each saved in a Barclays instant access savings account. The interest rates are decreasing next month to 1.50% for the 10k and 0.01 to anything over the 10k. Im not sure whether to shop around for better interest rates, to get an ISA or to invest it in premium bonds? Any advice greatly appreciated, thanks. 

csgohan4

https://www.moneysavingexpert.com/banking/?_ga=2.191425386.1383809975.1595060616-1306290656.1584788773

is a good start for savings, NS&I is an option, really depends on what you want and how long you want to invest for

xylophone

Do they also have a JISA each?
https://moneytothemasses.com/quick-savings/parents/best-junior-stocks-and-shares-isa

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

everycloudandthat

No just having a look at them now the ns&I one looks good

83705628

I don't think you can do better than NS&I JISAs atm,but existing customers of some banks  sometimes get better deals that might not be made available to the general public.