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best childrens ISA/SAVINGS for 14/15 year old

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best childrens savign account or isa? With the best interest possible. For my son to put all his savings in - he has nearly £500 at the moment and is trying to build up best possible interest to tuc… Read More
GentleTouch Avatar
7y, 5m agoPosted 7 years, 5 months ago
best childrens savign account or isa? With the best interest possible.
For my son to put all his savings in - he has nearly £500 at the moment and is trying to build up best possible interest to tuck his money away.
He is 14 / 15 in april.
Thanks in advance :)
GentleTouch Avatar
7y, 5m agoPosted 7 years, 5 months ago
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(17) Jump to unreadLocked
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#2
MSE showed some good ones from Skiptons not so long ago.
#3
My ISA dropped from 5.5% last year to 0.5% this year, fail. Lost out on like £250+.
#4
what is a good rate? i see some offering like 6% you have to pay in 10-100 per month or rates like 2.2% which are supposed to be good too?

this cropped up
http://www.theloughborough.co.uk/savingsdetail.php?recordID=31
#5
dcx_badass
My ISA dropped from 5.5% last year to 0.5% this year, fail. Lost out on like £250+.


Oooouch :-(
banned#6
halifax, but can only transfer up to £100 a month and its 6%
#7
sassie
halifax, but can only transfer up to £100 a month and its 6%


i seen that, looks good for a year
banned#8
GentleTouch
i seen that, looks good


been thinking of transferring the little guys over, hes with nationwide and its bleedin pathetic, they where gettting about £15 twice a year, now they getting less than £2 twice a year
#9
sassie
halifax, but can only transfer up to £100 a month and its 6%


Can I move my existing Halifax one over? I might ring them.
banned#10
dcx_badass
Can I move my existing Halifax one over? I might ring them.


you under 16 :w00t:
#11
sassie
you under 16 :w00t:


No. I Thought we were talking ISAs in general.
banned#12
dcx_badass
No. I Thought we were talking ISAs in general.


no sorry, its an under 16 yr old account


i did see an account the other day where it was locked in for 4 yrs and it went up to nearly 5% in the final year, but cant think where it was
#13
is the 2.2 one better than the halifax in terms of putting in a bulk amount e.g 500 at once?
or should i do the 100 per month with halifax after a year switch to another?
banned#14
GentleTouch
is the 2.2 one better than the halifax in terms of putting in a bulk amount e.g 500 at once?
or should i do the 100 per month with halifax after a year switch to another?


well the 6% one is 0.5% a month

1st month its 0.5% on £100
2nd month it 0,5% on £200
3rd month its 0.5% on £300 etc,etc

other is the full 2.2% on the £500 so ide say the halifax unless i got that completely wrong
#15
my mistake
#16
GentleTouch
so the 2.2 would be 2.2 in a year = 500 to 610
not bad for a year
anyone maths better than mine decide which is better? just saying 500 100 per month first 5 months then 10 per month after for arguments sake which would be better?


No, 2.2% of £500 is £11. so £511. You did 22%.
#17
dcx_badass
No, 2.2% of £500 is £11. so £511. You did 22%.


woops

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