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Savings accounts for children

Savings accounts for children

As parents, you always want to do the best by your children. This includes giving them the best start in life financially, especially as they may have university fees to pay and it becomes ever harder to get on the property ladder. So, it’s worth thinking about getting a head-start on saving for them from as early as possible. Here’s our guide to getting you started.

1. Types of children’s savings account

Children’s savings accounts come in lots of different types of account, in much the same way as there is plenty of variety with accounts for adults. From easy access accounts to fixed rate accounts, there are plenty of choice for children. There are also Junior ISAs and Child Trust Funds, which are not, strictly speaking, savings accounts but they are good vehicles for saving for children, so we will touch on them in this guide.

2. Which account is best for my child?

The answer to this depends on how much access you want to the money. If you hav...

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