Savings account for baby

FlaviaCapraru

I would like to open an account fir the baby where I get interest, but I don't want him to have control of the funds when he's 16 or 18. Is there such a bank account?

If not, then best to create a joint account between me and my partner, but I can't find a suitable one where we get a good interest. Chase, Zopa etc sunt offer joint account. Any other ideas?

MX5huggy

There’s not really an account that is theirs but you control after 18. Note also any money that is theirs that earns more that £100 in interest (per tax year) on money deposited by the parents, that interest is taxed as if it the parents interest. Junior ISA are excluded from this (but are are given to the child at 18). 

https://moneyfacts.co.uk/savings-accounts/ has a filter option for joint accounts 3.05% is available. 

My kids have small JISA’s stock and share ones (saving for 18 years plus with cash is a bad plan, your cash will get eaten by inflation) which hold a single investment fund. I don’t add much but concentrate on building my own wealth that I can give to them if I wish. 

oz0707

Another one for JISA here
Some people on here helped me to set up I think Fidelity was (is still?) fee free?

Exodi

If you want permanent control over the account then, as you say, you are looking at an account in your name and earmarking the funds for your child (I do the same).

As MX5huggy posted, the best savings accounts can be found here: https://moneyfacts.co.uk/savings-accounts/

It's interesting you consider easy access savings accounts (for the reasons MX5huggy also says, easy access savings will get eroded by inflation). Personally with a 16+ year time horizon, I'd consider investing. If you don't maximise your £20k S&S ISA allowance every year, the returns could also stay tax free.

If the reason you suggested easy access savings is because you think there is a small chance you may need to access the money - consider building an emergency savings pot first.

Albermarle

As above with a 20 year timeframe, you should be looking at a regular investment account, rather than a savings account.
Personally I would open a stocks and shares JISA and let them have control of the money at 18. Or at least put some in a JISA and keep some in your name.