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when is a student not a student ?
johnsp_2
Posts: 1 Newbie
My son, aged 16, is attending 6th college and wants to put his saving where they will get most interest. For all the accounts covered in this forum need you to be 18, although you usually only find this out after you've either read the small print or tried to put his age into the application form !
The high interest accounts for children mostly end at age 16 or even younger and are then get automatically moved to a very low interest rate account !
Has anyone suggestions as to accounts for the 16 -18 age group as surely someone must cater for this vast market ? Or is the only option as ISA. He has around £5000 to invest.
The high interest accounts for children mostly end at age 16 or even younger and are then get automatically moved to a very low interest rate account !
Has anyone suggestions as to accounts for the 16 -18 age group as surely someone must cater for this vast market ? Or is the only option as ISA. He has around £5000 to invest.
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Comments
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My 16 year old put his money into an Isa and a regular saver account. Forward thinking saving for a car etc. There are some fixed rate bonds avaliable to 16 year olds as well if you want to tie his money up (these will be taxable when he starts to pay tax).
They are in a sort of limbo at 16-18.£2 Coins Savings Club 2012 is £4
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NPFM 210 -
If you look around there are accounts out there that bridge the gap. I think halifax have a good one...?Come to my garden in South Bucks and i'll find you a wasp...0
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Try Nationwide FlexAccount with linked e-Savings.0
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