Saving bonds

[tammybear]

I had a savings bond done by my mum when I was little, and no-one was able to get a hold of the money til I turned 18. Can you open up one of these and be able to say a specific amount of years or are they set? Does that make sense?

I think you have to choose from the available products, rather than being able to specify a period that suits you; I know there are still 18-year child bonds available but presumably some for shorter periods as well? Certainly you get better interest by locking the money away for 18 years...

Children's savings bonds with National Savings are usually set for 5 yrs. They then write to you with an option to reinvest them or cash them in.