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Savings account for 16 year old
mrobbo
Posts: 55 Forumite
My son, who has just turned 16, wants to start saving. It looks as though he needs to wait until he is 18 before opening an ISA. What would his best option be? Thanks.
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Comments
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No, he can open a Junior ISA:mrobbo said:It looks as though he needs to wait until he is 18 before opening an ISA.
https://www.moneysavingexpert.com/savings/junior-isa/
Or consider other accounts that may fit his needs:
https://www.moneysavingexpert.com/savings/child-savings-tax-free/0 -
A Nationwide FlexOne current account pays 2% on balances and the linked FlexSaver pays 5% a year. It’s how I started my children managing their own money and they stayed with Nationwide for their student and graduate accounts.Fashion on the Ration
2024 - 43/66 coupons used, carry forward 23
2025 - 62/891 -
Many thanks Sarah. I will take a lookSarahspangles said:A Nationwide FlexOne current account pays 2% on balances and the linked FlexSaver pays 5% a year. It’s how I started my children managing their own money and they stayed with Nationwide for their student and graduate accounts.
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