Uni Money For DD

[ThatsNotMyMoney]

DD is off to uni in 2018 and will get minimum loan. I have saved up approx £6000 to supplement this, possibly £250/month during term time for next 2 years then our mortgage will be paid off in 2020 so will instead use money saved there for following 2 years (in Scotland so 4 year course).

I am looking for advice on where to put this money. Currently it is split between a junior ISA which I am going to ask DD to sign over to me when she reaches 18 and a savings account in my name with a fairly low interest rate.

I would like an interest-earning account in my name from which I can set up a monthly standing order to DD but don't want bank cards etc. Preferably something that can be managed online. I probably won't add to the account during the 2 year period if that's relevant.

Any advice much appreciated.

which I am going to ask DD to sign over to me when she reaches 18

and if she says no?

She knows about it, hiya, and that it's for uni but if she does say no then she won't get any money from us for her first year!

fair enough!
best interest these days is often from current accounts but usually a relatively low limit e.g. tesco bank 3% but only on up to £3,000. you can have several of them though. I have four TSB accounts that each pay 5% on up to £1,500. they generally have to have some money moving in and out of them each month so the same £500 makes its way from one to the next, to the next etc each month. Santander has one that will pay I think 1.5% on up to £20,000 but you need to pay a couple of direct debits from it.

Thanks for replying yasmin I think I missread your username!

I hadn't thought about a current account but will look into that. Never enough in my existing current account for me to notice the interest rate!

You're not the first to do that! Could you lock half of it away for one year? Also you can put 20k in an ISA, some now paying around 1.5%