Your children might think spending money is more fun than saving it, but teaching them to look after their money at a young age is likely to help them with financial planning in the future. Skipton Building Society children's savings accounts are available to anyone under the age of 26 and offer competitive interest rates providing you have the necessary opening deposit of £10.
Skipton Building Society children's savings accounts offer a range of benefits including:
- A passbook to help monitor the savings account
- Pay in funds from another Skipton account or with cash/by cheque
- Save up to £6,000 up to the age of 18 and £10,000 from 18-25
- Make penalty-free withdrawals
With Skipton Building Society children's savings accounts, interest rates are tiered, so the more money that is saved in the account, the more interest will be earned. Whether the money is for a specific purpose, for example driving lessons or a house deposit, or is simply something to fall back on later in life, saving is a great habit to get into.