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Child's Savings
JPin
Posts: 188 Forumite
Hi All - I have £400 for my newborn that I am not sure what to do with. I have been recommended Premium Bonds, however, is there a better option available?
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Comments
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Yes if they don't need access to it until age 18 then a cash Junior ISA would pay up to 2.95% or it could be invested in a S&S Junior ISA and go up and down with the stock market but with a suitably adventurous but sensible investment should do a bit better.
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https://www.gov.uk/junior-individual-savings-accounts
https://www.thisismoney.co.uk/money/saving/article-1583863/Best-savings-rates-Junior-Isas-children-s-accounts.html
Fidelity has received a favourable mention from other posters for Stocks and Shares option.
https://www.fidelity.co.uk/junior-isa/
https://monevator.com/tax-efficient-saving-for-children-and-grandchildren-with-jisas-and-sipps/
https://monevator.com/low-cost-index-trackers/
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