Advice - Childrens Savings

scolectic

Hi all
I am looking for an account for my daughters inheritence from her grandparents now deceased. The adult savings accounts don't want to know and it seems difficult to get rates from banks for childrens accounts ie tax free. Hers is a lump sum and can be fixed for 3/4 or 5 years - over £3k.

gt94sss2

I would suggest you try Halifax and/or Nationwide

They both offer reasonable children's accounts.

HSBC also has an account which is also quite good but is better for older children as it comes with a debit card.

If you are looking for a guaranteed return you could also consider National Savings and if you can afford to put the money away for a long time a stockmarket investment may also be worth considering.

Regards
Sunil

Mikeyorks

scolectic wrote: »

....childrens accounts ie tax free.

.... few tend to arrive in that manner. If you open an account in a childs name - you have to file an R85 (or phone to make a declaration, in some cases) to ensure the interest is paid gross. It's not automatic.