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Kids lump sum savings account
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Woolley2002
Posts: 3 Newbie
Hi,
I opened a Halifax kids saver esrni g 5.5% interest 7 years ago when my son was born and have been saving in this every month.
At the end of each 12 month period the money is automatically transferred into a kids saver now paying 3.1% interest.
I am now looking to transfer a lump sum of £5k from the kids saver into an account that pays higher than 3.1%
Does anyone have any suggestions on best kids savings account where I can transfer a 5k lump sum into?
I opened a Halifax kids saver esrni g 5.5% interest 7 years ago when my son was born and have been saving in this every month.
At the end of each 12 month period the money is automatically transferred into a kids saver now paying 3.1% interest.
I am now looking to transfer a lump sum of £5k from the kids saver into an account that pays higher than 3.1%
Does anyone have any suggestions on best kids savings account where I can transfer a 5k lump sum into?
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Did you know that you any interest over £100 in your child’s account eats into your personal savings allowance?If this means you need to pay tax on it you should be looking at a JiSA.0
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