Bid for kids with quids

Article Abstract:

There are a number of United Kingdom investment products geared to children and they do not all offer good value. They may offer free gifts that should not distract from interest rates that are often low for accounts with 100 pounds sterling. Cambridge Building Society offers 7.6% annual interest on the First account, while Alliance and Leicester and Lloyds Bank both only offer 1% on accounts with gimmicks. The Smart2Save account from Nationwide offers both free gifts and 5.5% annually for a 100 pounds deposit. Childrens Bonds are available from National Savings, and parents can invest in unit trusts for their children.

Commercial Banking, Savings Institutions, Savings Account Services, Savings accounts

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Quids in for kids

Article Abstract:

Investing for children in the United Kingdom initially tends to involve an account with a building society or bank. This is a safe investment which the child can have access to. A Children's Bonus Bond is available from National Savings to be held for five years. Friendly societies offer bonds with tax advantages, and there are also endowment policies which can be used for children. Investment trusts and unit trusts have to be held in the name of a parent, and some of these products are designed for saving for children.

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Quids in for kids

Article Abstract:

Financial planning to pay school fees needs to be part of a wider financial strategy involving different investment vehicles. The amount of time parents have to save affects the suitability of savings vehicles. Endowment policies are more appropriate for long-term saving, and they have been criticised for being inflexible. Personal equity plans offer tax advantages and are flexible. Other options include remortgaging and phased retirement for older parents with more than one personal pension scheme.

Schools

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