Bonds that mature-Auntie to be in need of advice

LotteLoulou

I'm totally new at this so be kind

I'm going to be an auntie for the first time in about a month and want to put some money aside for my new neice/nephew.

I've heard about Bonds (I think)that I could set to mature when the child is 18 or 21 years old, giving him/her a lump som at quite a good age. i.e just before uni or a gap year

Just wondered if they are worth it, if so can anyone recommend got ones to go with. If not is there a better way to save for a set number of years??


Thanks

dunstonh

You dont really want bonds but unit trusts with designation to childs name/initials. The unit trust would be more tax efficient than a bond (life funds). You can do similar with investment trusts as well.