Hi there, I posted this in the money section but didn't get many replies! So thought I'd post here for traffic.
I'm looking for some advice for opening up a savings account for my daughter (5 months old). I've been doing a bit of reading, trying to work out if a normal child saver account or isa is better, and it seems that NS&I junior isa has a good interest rate.
Has anyone used them for this? Would you recommend? I'm not wanting to take too many risks with money - I'd be putting £50 a month in there (this could obviously change if circumstances do), and I just want something that keeps hold of her money until 18 and hopefully builds a bit of interest along the way. Is this isa a good idea for that purpose?
Would I be able to open up anymore? I'm hoping to have more children, and would ideally like to open one each, so is this allowed? I've read you can only open one a year, but other than that is it unlimited?
Thanks people!