Kids Savings

JairzinhoBrazil1_

I'm looking for the best high interest 'Kids' account to put my 9 year old daughters £20,000 savings away for 3 years, any help would be appreciated.

xylophone

https://www.ybs.co.uk/savings/product?id=ONEDAY

might suit.

refluxer

There are a few banks and building societies who'll allow you to open a fixed rate bond for a child according to the listing for the best childrens' accounts on the Moneyfactscompare site.

https://moneyfactscompare.co.uk/savings-accounts/childrens-savings-accounts/?quick-links-first=false

The better rates (5%+) are for easy access/notice accounts or 1-2 year fixed rate periods - the best rates for a 3 year bond without a minimum age restriction appear to be the Buckinghamshire and Principality BS (4.50% and 4.40% respectively) at the moment, at least according to that comparison site.

Just be aware that any money locked away in a fixed rate bond/account won't be accessible for any reason (other than death or possibly critical illness) before the end of the fixed rate period.

Also - if that money has been given to your child by a parent, then there are tax implications if it earns more than £100 in interest (or £200 if it has come from both parents) in any one tax year.

Albermarle

JairzinhoBrazil1_ said:

I'm looking for the best high interest 'Kids' account to put my 9 year old daughters £20,000 savings away for 3 years, any help would be appreciated.

What would be the plan in 3 years time?
If in fact the money is for when she gets older ( 18) it might be better invested in a Stocks and Shares Junior ISA. Over 9 years it should grow more than in a savings account ( not 100% guaranteed though) 
Junior ISA | Invest in a Junior Stocks and Shares ISA | Fidelity