Savings bank account for my baby

We went for a stocks and shares isa with Hargreaves’s and lansdown, really easy to manage and for others to deposit money in at birthdays and Christmas 🙂

I opened one with Halifax as it had the highest rate and also I bank with them so easy to manage online 😊

I would go for one local to yourself. My family give us cash which means I can just pop in. In a year we are going to move it.

@Anna I second this....it was the best interest for a year then will look on to an ISA next year when hopeful the interest rates are better

We used Halifax for both our boys.xx

I’ll have a look at Halifax my morgage actually with them lol xx

We have a stocks and shares isa with beanstalk

I opened up a metro bank young savers

Coventry building society has good rates x

My girls just got normal kids isa with my bank Lloyds and then stocks and shares one with Wealthify

Money box is very good, cash isa and stock options. High interest rates (5.2%)

We put half in premium bonds and half in Halifax kids monthly saver account

I haven’t bothered with an account. I’ve put all his money into premium bonds as it will be a while before he will want to spend it. Any money he wins will also reinvest.

Money Saving Expert is a great resource for checking the best savings rates / account fees. My general advice would be if you want to access and spend the money over the next few years then keep it in cash (current rates are around 4%). If you want to build up a pot that isn’t touched until they’re much older then invest it in a stocks and shares ISA.

lloyds are really good, i opened 2 with them for my children last year x

I used NS&I for junior ISAs. 4% interest until they’re 18, automatically transfers to an adult ISA at 3.5%. No early withdrawals and you can open the account online. It is backed by the government/ treasury so it felt the safest long term option.

I'm looking for one that can be withdrawn from.... do any of these allow withdrawals?

@Dipti the lloyd’s one can be x

We’ve got Halifax for all 3 of ours as it was the best interest rate