Children’s savings account

[mooonbaby]

I have two little ones who have money depreciating in value sat in their piggy banks so would like to open them an account with good interest.

They only have a small amount of money (~£300) but this will keep going up as they get older. Any recommendations?

Check comparison sites for best cash Jisa rates if you’re talking about this being a serious long term saving.

But realistically you’re only looking at 3-4% so still falling in value in real terms.

Otherwise invest it in a Jisa. This will likely give them a bigger pot age 18 and should beat inflation but you’ll need to pick funds for them to hold in the account.

Both these are only options if you want this money for when they’re older - once it is in the Jisa you can’t take it out.

Otherwise the only option really is to put it in a cash savings account in your name if we’re talking small money you want them to have in the next couple of mths/yrs. Again, compare rates but you’ll need to fix a min of 9mths to get better than an instant acces cash rate.