new baby, new savings account! help!

jammiev

hi, we have a 6 week old baby and i want to open a savings account for her.
which is the best and safest one at the moment?
we already have about £100 for her from family and friends.
we will be putting in about £200 per year.
which has the best interest rate?


:beer:

martinman3

Take a look at http://www.moneysavingexpert.com/savings/child-savings-tax-free and get a list of the top childrens accounts from http://www.moneyfacts.co.uk/searches/savings.aspx

The Treasure Bond from Yorkshire Building Society currently pays 6.3% AER fixed for a year and may be worth looking at for what you have already saved if you don't need access to it. http://www.ybs.co.uk/savings/future/treasure/index.jsp

For your future savings open an instant access childs account from the links given above as the minimum opening balance is lower and if you wish you can move it to a fixed bond in the future.

Also, make sure you fill in the R85 for any accounts you open.

jammiev

yeh, i like the look of the halifax childrens savings account.