For children aged 0-15 years
The person opening the account must be over 18
No withdrawals
Only 1 account per child
Interest paid on maturity after 12 months
Interest rates are fixed upon opening the account - check in branch for the current rate
The person opening the account must be over 18
No withdrawals
Only 1 account per child
Interest paid on maturity after 12 months
Interest rates are fixed upon opening the account - check in branch for the current rate
Groups
Or just go buy some sweets instead!
Dont know where you got that idea i know a few in scotland
No, you only can pay regular monthly amount so actually works out at 3% over term, if you have lump sum put it into normal childs account it pays 3% therefore will come out with same interest amount over the term.
Well similar - £38 ish if you put £100 per month for 10 months (compound interest) v £30 for £1000 lump sum (if interest annual)
anyone ?
Crafty parents take advantage!
Where are they, please?
My wife had about £600 put away when she was a kid and forgotten about in the post office, books found when we were married, interest updated and she'd got about £3k. So well worth doing when they;re little and then later want a car
I went into a BOS last year to open one up for my son. After waiting for ages they told me I couldn't open one via a BOS, only via a Halifax of which there are none in Scotland.
Has anyone had a result in scotland and managed to open one?
There aren't any halifax branches currently in Scotland however Halifax customers can do most of their transactions in Bank of Scotland branches. In the near future 3 Halifax branches are opening, one in Edingburgh, Glasgow & Aberdeen.
If money you have given to your kids, then yes you are supposed to declare it and pay tax.
Edited to add 'If the annual interest is over £100'.
WHAT!!.......By the time he's 11 and 2 days old it'll be all spent on an Xbox12 ........... oO
Blessings upon you.....but no Dosh......tough......;)