If you want to build up a nest egg for your child, then you could consider a Kent Reliance Building Society children's savings account. It offers competitive rates for your child's savings and interest can be paid without deduction of tax. Other features of the Kent Reliance Building Society children's savings account include:
- Minimum opening balance of £1
- Minumum deposits of £1
- Easy access
- Transferred to another account on 16th birthday
- Interest added annually
If the child is under 7 years of age, a parent or guardian will have to open and manage the Kent Reliance Building Society children's savings account on the child’s behalf.