looking for a savings account for a child?

Question

had a baby recently and was looking for a good savings account, that will also allow me to access the money quickly. want to save about £40 to £50 per month.

Answer 1

Our son has a Ladybird account at the Saffron Walden, Hearts & Essex Building Society. We checked a couple of years ago when he was born and that one was paying the highest interest. We checked the Post Office & National Savings as well - their rates were rubbish.

Generally it seems most banks or building societies offer an account just for children (like the Ladybird account) which pays higher interest than the accounts for adults. You can also register to make sure your baby pays no tax on the interest.

If you know you can commit to saving the same amount each month you might want to look at the regular savings accounts from Halifax or HSBC. Both have been advertised recently and seem to pay very high interest rates. It is worth checking the terms carefully though, sometimes they include little tricks like not paying any interest until the month after the deposit is received.

Answer 2

We began a regular rate reductions account whilst my daughter became born 5 months in the past, as quickly as her social protection card got here. We placed $25 in there a week, she's have been given $475 precise now. issues are tight, yet I in simple terms pay it like a invoice. I determine as quickly as we are over $one thousand or so, we are going to flow what we would desire to constantly a CD or some thing extra aggressive, through fact precise now her rate reductions is in simple terms .10% pastime (particular, it rather is precise, .001!) She has earned a whopping 6 cents in pastime. We in simple terms mandatory some thing we are able to place money into often, through fact a splash at a time like that may not as vast a deal as even attempting to return up with $one hundred a month. It rather in simple terms relies upon what works for you. If accummulating replace is the least confusing thank you to maintain for you - then in simple terms save at it. in keeping with risk each time the financial employer is complete, bypass an deposit it right into a rate reductions account. What works for us is to be certain those consistent $25 deposits on paper. We went with the common rate reductions through fact we are able to upload to it each time we want, and there is not any minimum stability through fact she's a minor (maximum banks furnish a no-minimum account for infants) so i became able to start it with in simple terms $25.

Answer 3

pay half into an endownment of some sort, available from most Life Product co. and the other half into a savers account from a bank, this will give you high return on half and ease of access on the other half.

Answer 4

Take a look at what Post Office has to offer, there are some good deals for non taxpayers.

Answer 5

TD Waterhouse.

Answer 6

Try

http://www.moneyextra.com/

http://www.moneysupermarket.com/

I find them very useful for finding the best comparisions.