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Old 28.07.2010, 22:06
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Child Savings

I've been searching around but cant find anything on this;

I currently have a halifax stepped (thats what i call it anyway) saving account set up for my chidren where we pay £100 in a month for a maximum of 12 month where after this gets swept into a lower interest account and it restarts again (max of £120).

The stepped saving account pays 10% interest per month on the stepped account and a lessor figure on the secondry account of about 3% which is capped at 5K, but i can open upto 5 accounts with the3%

I'm just wondering whether there are similar schemes running here? i've looked around and cant really see anything related to child saving.

I think its probably better to keep the halifax one going however some people are saying its better to keep the cash off shore?

any advise is welcome
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Old 29.07.2010, 00:08
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Re: Child Savings

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I've been searching around but cant find anything on this;

I currently have a halifax stepped (thats what i call it anyway) saving account set up for my chidren where we pay £100 in a month for a maximum of 12 month where after this gets swept into a lower interest account and it restarts again (max of £120).

The stepped saving account pays 10% interest per month on the stepped account and a lessor figure on the secondry account of about 3% which is capped at 5K, but i can open upto 5 accounts with the3%

I'm just wondering whether there are similar schemes running here? i've looked around and cant really see anything related to child saving.

I think its probably better to keep the halifax one going however some people are saying its better to keep the cash off shore?

any advise is welcome
No there is nothing similar but... Because sending kids to university costs so much they do have future saving funds but these are effectively just a standard bank fund marketed with a lifespan of 18 years to match a potential sibling's coming of age. Nothing more nothing less...
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