Kids' savings accounts
Kids' savings accounts
Author
Discussion

bungle

Original Poster:

1,874 posts

257 months

Sunday 1st January 2012
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I want to open savings accounts for my kids (they already have CTFs), and am confused about where to go. As is common with the rest of the banking world it seems, all the accounts have a "bonus" for a year which relies on people being lazy (I am) and not moving it after a year and being on a crap rate for ever.

I'd really just like to open an account with a place that will offer a pretty decent rate consistently over the years, with no gimmikks / 1-yr offers etc. I just don't want to be opening and closing accounts each years.

Any recommendations on places that just offer good solid rates? All the search sites just put the bonus rates straight at the top. (if it makes any difference we'll be making regular (£100 or so) savings each month).

Thanks.

cailean

917 posts

190 months

Sunday 1st January 2012
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Are you aware that the CTF limits go up to £3k or so now that the Junior ISAs are in force?

bungle

Original Poster:

1,874 posts

257 months

Monday 2nd January 2012
quotequote all
I wasnt, thanks. Trouble is that CTF rates are rubbish and i guess they will just get worse as they get forgotten about and of course all your money is then locked in till tke kids are 18.