With a Junior ISA from Fidelity, customers may be provided with a useful and tax efficient way of saving for their child’s future.
Using this type of savings products, customers can grow their savings on an almost tax free basis, although it should be remembered that this investment cannot be accessed until the child reaches the age of 18.
It is also important to remember that up to a maximum of £4,000 can be deposited in these accounts every year. Children must have either been born after 3rd of January 2011, or be under the age of 18 if they were born before September 2002.
Any money that is placed in a Junior ISA is legally the property of the child and cannot be withdrawn by anyone except the child when they have turned 18 years old.
Children born between the above dates may also be eligible for this type of account, as long as they have not previously had a Government Trust Fund opened in their name.
Click on the link above to check out the Fidelity Junior ISA deal in more detail.