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Child savings account

1 reply

sueevone · 02/09/2018 08:14

I am looking for a child savings account that I can lock away the money (we won't need access to the money) with a decent interest rate. We currently have DS money in a Halifax child account with 4% interest but that was only for a year and it's due to expire soon. Any suggestions of similar accounts that we can switch it to as once the 1year 4% interest rate comes to an end it drops dramatically.

OP posts:
tomhazard · 02/09/2018 09:57

We use Junior Stocks and Shares ISAs for our DC. They will have access to this money at 18 though so we don't plan for it to be a huge amount - hopefully around 10k each- that they can use towards their education, travel or car.
We have extra ISAs in our own names for each child - these are designed to give them a boost with a house deposit or other large expenditure but I would rather keep these in our names so we can give it to them at the right moment.

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