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Saving for my child

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Hello all, new here. 

Just had my first child last year and I’ve been looking at what account to open. The plan would be to put a set amount away each month until the age of 18 or 21. 

As it’ll be away and being added to for a long time I’ll like to get the best interest going. 

Thank you 

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  • Albermarle
    Albermarle Posts: 23,120 Forumite
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    One of the most regular questions on the forum.

    Usual reply is that due to the time scale it would be better to invest the money, rather than save it.
    You can add £9Kpa to a Junior Stocks and shares ISA, with no issues about tax etc. This one if offered with no platform fee, although the investment(s) will have their own charges.
    Junior ISA | Invest in a Junior Stocks and Shares ISA | Fidelity
  • Keep_pedalling
    Keep_pedalling Posts: 17,233 Forumite
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    I would look at a S&S JISA rather than a cash account that will lose real value through inflation. You child will get control of the account at 16, and have access to the money at 18.
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