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best childrens ISA/SAVINGS for 14/15 year old

17
Found 20th Jan 2010
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

17 Comments

MSE showed some good ones from Skiptons not so long ago.

My ISA dropped from 5.5% last year to 0.5% this year, fail. Lost out on like £250+.

Original Poster

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
theloughborough.co.uk/sav…=31

dcx_badass;7606785

My ISA dropped from 5.5% last year to 0.5% this year, fail. Lost out on … My ISA dropped from 5.5% last year to 0.5% this year, fail. Lost out on like £250+.



Oooouch :-(

Banned

halifax, but can only transfer up to £100 a month and its 6%

Original Poster

sassie;7606899

halifax, but can only transfer up to £100 a month and its 6%



i seen that, looks good for a year

Banned

GentleTouch;7606918

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

sassie;7606899

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

dcx_badass;7606966

Can I move my existing Halifax one over? I might ring them.



you under 16 :w00t:

sassie;7606977

you under 16 :w00t:



No. I Thought we were talking ISAs in general.

Banned

dcx_badass;7606997

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

Original Poster

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

GentleTouch;7607250

is the 2.2 one better than the halifax in terms of putting in a bulk … 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

Original Poster

my mistake

GentleTouch;7607429

so the 2.2 would be 2.2 in a year = 500 to 610not bad for a yearanyone … so the 2.2 would be 2.2 in a year = 500 to 610not bad for a yearanyone 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%.

Original Poster

dcx_badass;7607571

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



woops

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